{
    "success": true,
    "data": {
        "id": 1526855,
        "msgid": "sempati-rating-lowered-1447893297",
        "date": "1997-03-12 00:00:00",
        "title": "Sempati rating lowered",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Sempati rating lowered JAKARTA (JP): Pefindo, Indonesia's only credit rating agency, has decided to downgrade the rating of PT Sempati Air's Rp 50 billion (US$21.09 million) commercial paper to B with from A-4 previously. The rating company said that the downgraded rating reflected the airline company's unfavorable financial performance. The company's financial performance had not shown significant improvement following the restructuring of the company's management recently.",
        "content": "<p>Sempati rating lowered<\/p>\n<p>JAKARTA (JP): Pefindo, Indonesia's only credit rating agency,<br>\nhas decided to downgrade the rating of PT Sempati Air's Rp 50<br>\nbillion (US$21.09 million) commercial paper to B with from A-4<br>\npreviously.<\/p>\n<p>The rating company said that the downgraded rating reflected<br>\nthe airline company's unfavorable financial performance.<\/p>\n<p>The company's financial performance had not shown significant<br>\nimprovement following the restructuring of the company's<br>\nmanagement recently.<\/p>\n<p>\"The declining liquidity and leverage conditions are still<br>\nPefindo's major concern,\" it said.<\/p>\n<p>According to the rating company, current ratio had declined as<br>\nof July, 1996 due to the increase in short-term debt, consisting<br>\nmostly of bank loans and commercial papers.<\/p>\n<p>Pefindo, however, viewed that the new management was exerting<br>\npositive efforts to improve the company's financial performance.<\/p>\n<p>It hoped that the new management would continually commit itself<br>\nto improve the management of its receivables through the<br>\nimplementation  of revenue accounting. (hen)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/sempati-rating-lowered-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}