Moody's Assigns First-Ever Baa2 Rating to Danantara Investment Management

Global rating agency Moody’s Ratings has assigned an issuer rating of Baa2 for the first time to PT Danantara Investment Management (DIM), though it has set a negative outlook in line with the debt rating prospects of the Indonesian government.

The Danantara Indonesia Communications Team welcomed the Baa2 issuer rating by Moody’s, which places DIM within the investment grade category and aligns with Indonesia’s sovereign rating of Baa2.

“This is a significant milestone in our development and confirms the strength of our institutional foundation as we continue our steps to engage with global financial markets,” stated Danantara Indonesia in a written statement in Jakarta on Friday (5/6/2026).

The Danantara Indonesia Communications Team noted that DIM’s rating and outlook reflect and align with Indonesia’s sovereign rating and outlook, which is standard for entities with close ties to a nation.

This recognition further strengthens confidence in the company’s strategy, governance, and long-term position as it seeks to expand access to international funding and support Indonesia’s economic priorities.

Previously, Moody’s assigned a provisional Baa2 rating to the global senior unsecured medium-term notes (MTN) programme issued by DIM, as well as a Baa2 rating for DIM’s planned issuance of senior unsecured notes. The outlook for all such ratings was set to negative.

“The Baa2 issuer rating for Danantara Investment Management with a negative outlook is aligned with the sovereign rating of the Government of Indonesia (Bands Baa2 negative), supported by strong credit ties, including its ownership structure within the Danantara institutional framework and our expectation of timely extraordinary support from the government,” said Rachel Chua, Vice President and Senior Analyst at Moody’s Ratings, in an official statement in Jakarta on Wednesday (4/6/2026).

Moody’s stated that the Baa2 issuer rating for DIM is aligned with the Baa2 sovereign rating of the Indonesian Government, reflecting the strong credit relationship between DIM and the government.

This relationship encompasses DIM’s ownership structure, its role within the Danantara BPI, and Moody’s expectation of timely extraordinary support from the government.

Furthermore, Moody’s has classified DIM as a Government-Related Issuer (GRI) and applied a top-down approach.

Moody’s did not provide a Baseline Credit Assessment (BCA), reflecting DIM’s nascent stage of development, limited track record, and the absence of significant independent operations.

“Therefore, this rating is primarily driven by sovereign linkage rather than standalone credit strength,” said Rachel.

Moody’s considers the high level of government oversight and governance integration to support a very high likelihood of timely extraordinary support.

This governance integration is reinforced by the overlap of senior management and board representation between BPI Danantara and DIM, which supports strategic alignment and investment execution.