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

Global rating agency Moody’s Ratings has for the first time assigned a Baa2 issuer rating to PT Danantara Investment Management (DIM), though it set a negative outlook in line with the prospects for the Indonesian government’s debt rating. The Danantara Indonesia Communications Team welcomed the Baa2 issuer rating from Moody’s, which places DIM in the investment-grade category and aligns it with Indonesia’s sovereign rating of Baa2. ‘This represents an important milestone in our development and affirms the strength of our institutional foundations as we make ongoing strides to engage with global financial markets,’ Danantara Indonesia stated in a written release in Jakarta on Friday (5/6/2026). The Danantara Indonesia Communications Team assessed that DIM’s rating and outlook reflect and are aligned with Indonesia’s sovereign rating and outlook, which is customary for entities with linkages to a state. This recognition further strengthens confidence in the company’s strategy, governance, and long-term position as it seeks to broaden 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 note programme issued by DIM and assigned a Baa2 rating to DIM’s planned senior unsecured debt issuance. All rating outlooks were set at negative. ‘The Baa2 issuer rating for Danantara Investment Management with a negative outlook is aligned with the sovereign rating of the Government of Indonesia (Baa2 negative), supported by strong credit linkages, including its ownership structure within the Danantara institutional framework and our expectation of extraordinary and timely support from the government,’ said Moody’s Ratings Vice President and Senior Analyst Rachel Chua in an official statement in Jakarta on Wednesday (4/6/2026). Moody’s stated that DIM’s Baa2 issuer rating is aligned with the Indonesian government’s Baa2 sovereign rating, reflecting strong credit linkages between DIM and the government. These linkages include DIM’s ownership structure, its role within BPI Danantara, and Moody’s expectation of extraordinary and timely government support. Additionally, Moody’s classifies DIM as a Government Related Issuer and applies a top-down approach. Moody’s also does not assign a Baseline Credit Assessment, reflecting DIM’s nascent stage of development, limited track record, and the absence of significant standalone operations. ‘Therefore, this rating is primarily driven by sovereign linkage rather than standalone credit strength,’ Rachel Chua said. Moody’s considered the high level of government oversight and governance integration, which supports the very high likelihood of extraordinary and timely support. This governance integration is reinforced by management overlap at the senior management and board representation levels between BPI Danantara and DIM, which bolsters strategic alignment and investment execution.