Mitratel Maintains Highest idAAA Rating from PEFINDO
PT Dayamitra Telekomunikasi Tbk (MTEL), better known as Mitratel, has once again affirmed its reputation in the financial markets. The company has successfully maintained the highest rating of idAAA with a stable outlook from PT Pemeringkat Efek Indonesia (PEFINDO) for its Sustainable Bond Series I, as well as idAAA(sy) for its Sustainable Ijarah Sukuk Series I.
This information was officially submitted to the Financial Services Authority (OJK) and the Indonesia Stock Exchange (BEI) via a disclosure dated 14 April 2026, published on the IDX website on Tuesday. The document was signed by Mitratel’s Director of Investment and Corporate Secretary, Hendra Purnama.
Management emphasised that this reporting is part of the company’s commitment to upholding transparency principles towards regulators and investors alike. It is a step that reflects disciplined corporate governance.
In its assessment, PEFINDO positions Mitratel as very solid in the telecommunications tower industry. This is supported by recurring revenue streams from tower leasing business, as well as structural support from its parent company, PT Telkom Indonesia Tbk (TLKM).
The company’s financial performance is also deemed to be in excellent condition, with maintained revenue visibility. The stable outlook assigned reflects confidence that Mitratel can sustain its operational and financial performance amid a competitive industry landscape.
Nevertheless, PEFINDO provides a note of caution. Dependence on external funding is one factor that needs to be monitored. The rating could come under pressure if there is significant weakening in market position, a decline in revenue and EBITDA realisation below expectations, or a surge in debt not matched by business growth.
Fundamentally, Mitratel closed the 2025 fiscal year with consolidated total assets of Rp57.03 trillion. Equity stood at Rp32.03 trillion, while total liabilities reached Rp21.48 trillion. Operationally, the company recorded revenue of Rp9.53 trillion, EBITDA of Rp7.83 trillion, and net profit of Rp2.12 trillion.
The EBITDA margin remained impressive at 82.2%—an indicator of maintained efficiency. The debt-to-EBITDA ratio was around 2.7 times, while the FFO-to-debt ratio reached 26%.
As a subsidiary of PT Telkom Indonesia with a 71.83% ownership stake, Mitratel has been listed on the Indonesia Stock Exchange since 2021. It has now become one of the largest telecommunications tower operators in the country. The remaining shares are held by the public, PT Mettle Investama, and the Government of Singapore.
With this idAAA rating achievement, Mitratel further strengthens its credibility in the bond market. This accomplishment is expected to maintain investor trust in the issued bonds and sukuk, while supporting the company’s business expansion steps in the future.