JACCS CO., LTD. Fitch Ratings Indonesia has published the National Long-Term Rating of 'AA(idn)' on Phase II of PT JACCS Mitra Pinasthika Mustika Finance Indonesia's (JACCS MPMF, AA(idn)/Stable) third medium-term notes issuance of 2022.
Phase II consists of
'AA' National Long-Term Ratings denote expectations of a very low level of default risk relative to other issuers or obligations in the same country or monetary union. The default risk inherently differs only slightly from that of the country's highest rated issuers or obligations.
Key Rating Drivers
JACCS MPMF's notes are rated at the same level as its National Long-Term Rating, in line with Fitch's criteria, as the notes represent the company's direct and unsecured obligations, and rank equally with all its other unsecured debt.
JACCS MPMF's National Long-Term Rating is derived from our expectation of a high probability of extraordinary support from its parent,
DEBT AND OTHER INSTRUMENT RATINGS: KEY RATING DRIVERS
JACCS MPMF's notes are rated at the same level as its National Long-Term Rating.
DEBT AND OTHER INSTRUMENT RATINGS: RATING SENSITIVITIES
Any change in JACCS MPMF's National Long-Term Rating would lead to similar action on its debt ratings.
Date of Relevant Committee
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
Public Ratings with Credit Linkage to other ratings
JACCS MPMF's ratings are based on Fitch's expectation of extraordinary support from its materially stronger parent,
RATING ACTIONS
Entity / Debt
Rating
PT JACCS Mitra Pinasthika Mustika Finance Indonesia
senior unsecured
Natl LT
AA(idn)
Publish
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VIEW ADDITIONAL RATING DETAILS
Additional information is available on www.fitchratings.com
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