Pefindo ties up with S&P

Pefindo ties up with S&P

JAKARTA (JP): Pefindo, Indonesia's only rating agency, will
receive technical assistance from Standard & Poor's, an
international rating company.

A Pefindo director, Urip Suprodjo, said that the agreement on
technical assistance with Standard & Poor's would be signed here
on July 22.

He said Pefindo has so far cooperated with a number of
international rating agencies in improving the quality of its
ratings.

At present, Pefindo receives technical assistance from IBCA, a
British rating agency specializing in the financial sector, and
the Rating Agency of Malaysia.

Pefindo is the only rating company authorized by the
government to assign ratings on Indonesia's commercial papers and
bonds issuers.

The number of companies applying for Pefindo's ratings has
reached 106 since its establishment two years ago, with an
average capitalization of Rp 100 billion (US$45.45 million) per
issue. (hen)