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Rajawali Citra Televisi Indonesia (Released: October 17, 2005)
     PEFINDO affirmed its ratings of “idA-” for PT Rajawali Citra Televisi Indonesia (RCTI or the Company)
Leighton Contractors Indonesia (Released: October 17, 2005)
     PEFINDO assigned a corporate rating of “idA-” to PT Leighton Contractors Indonesia (LGCI or the Company).
Astra Graphia Tbk. (Released: October 04, 2005)
     PEFINDO reaffirmed “idA-” ratings for PT Astra Graphia Tbk. (ASGR or the Company) and the Company’s Bond I/2003
Bank Pan Indonesia Tbk. (Released: October 03, 2005)
     PEFINDO affirmed its ratings of “idA-” for PT Bank Pan Indonesia Tbk (PNBN or the Bank)
Federal International Finance (Released: October 03, 2005)
     PEFINDO affirmed its ratings for PT Federal International Finance (FIFN or the Company) at “idA+“.
Telekomunikasi Indonesia (Persero) Tbk. (Released: October 03, 2005)
     PEFINDO affirmed “idAAA” ratings to PT (Persero) Telekomunikasi Indonesia Tbk. (TLKM or the Company)
Thiess Contractors Indonesia (Released: October 03, 2005)
     PEFINDO assigned a corporate rating of “idA+” to PT Thiess Contractors Indonesia (THCI or the Company).
Bank Negara Indonesia (Persero) Tbk. (Released: September 22, 2005)
     PEFINDO affirmed its ratings for PT Bank Negara Indonesia (Persero) Tbk at “idA-” and Subordinated at “idBBB+”.
Bank Syariah Mandiri Tbk. (Released: September 22, 2005)
     PEFINDO upgraded the ratings of PT Bank Syariah Mandiri from “idBBBsy” to “idBBB+sy”.
Pembangunan Perumahan (Persero) (Released: September 22, 2005)
     PEFINDO affirmed its ratings of “idBBB” for PT Pembangunan Perumahan Persero (PBPR or the Company).
Indofood Sukses Makmur Tbk. (Released: September 20, 2005)
     PEFINDO affirmed its “idAA” ratings for PT Indofood Sukses Makmur Tbk. (INDF or the Company).
Summarecon Agung Tbk. (Released: September 19, 2005)
     PEFINDO reaffirmed its ratings for PT Summarecon Agung Tbk. (SMRA or the Company) at “idBBB”
Serasi Autoraya (Released: September 12, 2005)
     PEFINDO upgraded its ratings for PT Serasi Autoraya (SERA or the Company) to “idA-” from “idBBB+”.
Bank Bukopin (Released: September 12, 2005)
     PEFINDO affirmed its ratings for Bank Bukopin (BPIN or the bank) at “idBBB+”
Arpeni Pratama Ocean Line (Released: August 30, 2005)
     PEFINDO affirmed its ratings of “idA-” for PT Arpeni Pratama Ocean Line (APOL or the Company)
U Finance Indonesia (Released: August 22, 2005)
     PEFINDO assigned “idBBB+“ ratings to PT U Finance Indonesia (UFIN or the Company)
Perkebunan Nusantara III (Released: August 22, 2005)
     PEFINDO upgraded its ratings for PT Perkebunan Nusantara III (PTP3 or the Company) to “idA+”
Bank Syariah Muamalat Indonesia Tbk. (Released: August 22, 2005)
     PEFINDO reaffirmed its rating for PT Bank Syariah Muamalat Indonesia (BBMI or the bank) Tbk. at “idBBBsy”
BPD Sumatera Selatan (Released: August 22, 2005)
     PEFINDO upgraded the ratings for PT Bank Sumsel (BPSS or the bank) to “idBBB”
Alfa Retailindo Tbk. (Released: August 8, 2005)
     PEFINDO affirmed the corporate and long-term IDR125 billion bond ratings of PT Alfa Retailindo Tbk. at “idA-“
Ciliandra Perkasa (Released: August 2, 2005)
     PEFINDO reaffirmed the ratings of “idBBB” for PT Ciliandra Perkasa (CILI or the Company)
Adira Dinamika Multifinance Tbk. (Released: July 29, 2005)
     PEFINDO affirmed the ratings of PT Adira Dinamika Multi Finance Tbk. Bond I/2003 of IDR500 bn at “idA“.
Bank Jatim (Released: July 29, 2005)
     PEFINDO upgraded the ratings of PT Bank Jatim (BPJT or the Bank) to “idBBB+” from “idBBB”.
Gajah Tunggal Tbk (Released: July 14, 2005)
     PEFINDO assigned the rating of “idBBB” for PT Gajah Tunggal Tbk. (GJTL or the Company).
Pupuk Kalimantan Timur Tbk (Released: July 14, 2005)
     PEFINDO affirmed the ratings for PT Pupuk Kalimantan Timur Tbk. (PPKT or the Company) at “idA+”
Bank DKI (Released: July 11, 2005)
     PEFINDO upgraded the ratings for PT Bank DKI (BDKI or the Bank) to “idBBB”
Mayora Indah Tbk (Released: July 11, 2005)
     PEFINDO affirmed the ratings of “idA” for PT Mayora Indah Tbk. (MYOR or the Company)
Perum Pegadaian (Released: July 11, 2005)
     PEFINDO affirmed the ratings of “idAA” for Perum Pegadaian (PUPG or the Company)
Surya Citra Televisi (Released: July 11, 2005)
     PEFINDO affirmed the ratings of “idA-” for PT Surya Citra Televisi (SCTV or the Company)
Trimegah Securities Tbk (Released: July 11, 2005)
     PEFINDO affirmed “idA-” ratings for PT Trimegah Securities Tbk (TRIM or the Company)
Bank Bumiputera Tbk (Released: July 04, 2005)
     PEFINDO reaffirmed “idBBB-” ratings for PT Bank Bumiputera Tbk (BABP or the Bank)
PT Indosiar Visual Mandiri (Released: July 04, 2005)
     PEFINDO affirmed the ratings of “idA-” for PT Indosiar Visual Mandiri (IDSR or the Company)
PT Medco Energi Internasional Tbk. (Released: June 28, 2005)
     PEFINDO affirmed “idAA-” ratings for PT Medco Energi Internasional Tbk (MEDC or the Company)
Matahari Putra Prima Tbk.(Released: June 15, 2005)
     PEFINDO affirmed the ratings of “idA+” for PT Matahari Putra Prima Tbk. (MPPA or the Company)
Berlian Laju Tanker Tbk. (Released: June 07, 2005)
     PEFINDO affirmed the ratings of “idA” for PT Berlian Laju Tanker Tbk. (BLTA or the Company)
Lautan Luas Tbk (Released: June 07, 2005)
     PEFINDO upgraded the ratings to “idA-” from “idBBB+” on PT Lautan Luas Tbk. (LTLS or the Company)
Sinar Sosro (Released: June 01, 2005)
     PEFINDO upgraded the ratings of PT Sinar Sosro (SNSR or the Company) to “idA+” from “idA”
Tunas Financindo Sarana (Released: June 01, 2005)
     PEFINDO upgraded the ratings of PT Tunas Financindo Sarana (TUFI or the Company) to “idA-” from “idBBB+”
Danareksa (Persero) (Released: May 27, 2005)
     PEFINDO affirmed “idA-” ratings for PT Danareksa (Persero) (DNRK or the Company)
Bank Pembangunan Daerah Lampung (Released: May 26, 2005)
     PEFINDO assigned “idBBB” ratings to PT Bank Lampung (BPLP or the Bank)
Semen Gresik (Persero) Tbk. (Released: May 26, 2005)
     PEFINDO affirmed the ratings of “idA+” for PT Semen Gresik (Persero)-parent only
PAM Lyonnaise Jaya (Released: May 20, 2005)
     PEFINDO assigned “idA-” ratings for PT PAM Lyonnaise Jaya (PLJY or the Company)
Swadharma Indotama Finance (Released: May 20, 2005)
     PEFINDO reaffirmed “idBBB” ratings for PT Swadharma Indotama Finance (SWIF or the Company)
Bank Jabar (Released: May 20, 2005)
     PEFINDO upgraded the ratings of PT Bank Jabar (BPJB or the Bank) to “idA-” from “idBBB+”
Charoen Pokphand Indonesia (Released: May 13, 2005)
     PEFINDO downgraded the ratings of PT Charoen Pokphand Indonesia Tbk. (CPIN or the Company) to “idBBB-”
Jawa Pos (Released: May 13, 2005)
     PEFINDO affirmed the ratings of “idA-“ for PT Jawa Pos (JAWA or the Company)
Bank Niaga Tbk. (Released: May 12, 2005)
     PEFINDO assigned a general obligation rating of “idA” to PT Bank Niaga Tbk. (BNGA or the Bank).
Indomobil Finance Indonesia (Released: May 11, 2005)
     PEFINDO assigned “idA-” ratings to PT Indomobil Finance Indonesia (IDMF or the Company)
Adhi Karya (Persero) Tbk. (Released: May 04, 2005)
     PEFINDO upgraded the ratings for PT Adhi Karya (Persero) Tbk to “idBBB+.
Wijaya Karya (Released: May 04, 2005)
     PEFINDO upgraded the ratings for PT Wijaya Karya (WIKA or the Company) to “idBBB+“
PT Indosat Tbk. (Released: May 04, 2005)
     PEFINDO assigned “idAA+” ratings to PT Indosat Tbk (ISAT or the Company)
Bank NISP (Released: December 10, 2004)
     PEFINDO upgraded the ratings for PT Bank NISP Tbk. and its MTN III and IV to "idA-"
     as well as Subordinated Debt I/2003 is upgraded to "idBBB+" III and IV to "idA-"
Bank Rakyat Indonesia (Released: December 10, 2004)
     PEFINDO upgraded the ratings for PT Bank Rakyat Indonesia (Persero) Tbk. to "idA+"
     as well as subordinated bond I/2003 is upgraded to "idA"
Branta Mulia (Released: December 10, 2004)
     PEFINDO affirmed a "idA-" ratings to both PT Branta Mulia Tbk. and its Bond I/2004
Bumi Serpong Damai (Released: December 10, 2004)
     PEFINDO affirmed "idBBB-" ratings for both general obligation of PT Bumi Serpong Damai and its Bond I/2003
Dankos Laboratories (Released: December 10, 2004)
     PEFINDO upgraded the ratings for PT Dankos Laboratories TBk. and its Bond I/2000 to "idA+".
Duta Pertiwi (Released: December 10, 2004)
     PEFINDO affirmed the ratings for PT Duta Pertiwi Tbk. and its Bond IV/2003 at "idBBB-"
Perkebunan Nusantara V (Released: December 10, 2004)
     PEFINDO reaffirmed "idA" ratings for both corporate and Bond I/2003 PT Perkebunan Nusantara V
Putra Sumber Utama Timber (Released: December 10, 2004)
     PEFINDO upgraded the ratings for PT Putra Sumber Utama Timber and its Bond I/2003 to "idBB+" from "idBB+"
Unggul Indah Cahaya (Released: December 10, 2004)
     PEFINDO affirmed the ratings of "idA" for PT Unggul Indah Cahaya Tbk. and its Bond I/2003.
Astra International (Released: November 12, 2004)
     PEFINDO upgraded the ratings for PT Astra International and its bond III/1999 to "idAA-"
Asuransi Kredit Indonesia (Persero) (Released: November 12, 2004)
     PEFINDO assigned the financial strength rating of "idA" To PT Asuransi Kredit Indonesia
Central Sari Finance (Released: November 12, 2004)
     PEFINDO upgraded the ratings of PT Central Sari Finance and its Bond I/2003 to "idBBB+"
Jasa Marga (Persero) (Released: November 12, 2004)
     PEFINDO affirmed "idA+" ratings for PT (Persero) Jasa Marga and all its bonds.
Jasa Raharja Putera (Released: November 12, 2004)
     PEFINDO reaffirmed its financial strength rating for PT Jasa Raharja Putera at "idA-".
Perusahaan Listrik Negara (Persero) (Released: November 12, 2004)
     PEFINDO upgraded the ratings for PT (Persero) Perusahaan Listrik Negara and its bond VI/1997 to "idA-"
PT Telekomunikasi Indonesia (Released: November 12, 2004)
     PEFINDO affirmed the "idAAA" ratings for PT (Persero) Telekomunikasi Indonesia and its bond /2002.
Arpeni Pratama Ocean Line (Released: September 21, 2004)
     PEFINDO affirmed the ratings of "idA-" for PT Arpeni Pratama Ocean line Bond I/2003.
Bank Ekspor Indonesia (Persero) (Released: September 21, 2004)
     PEFINDO upgraded the ratings of BEXI MTN I/2002 as well as Bond I/2003 to "idBBB+".
Bank Jabar (Released: September 21, 2004)
     PEFINDO assigned "idBBB+" rating to PT Bank Jabar Bond IV/2004.
Bank Negara Indonesia (Released: September 21, 2004)
     PEFINDO upgraded the ratings of PT Bank Negara Indonesia Bond I/2003 to "idA-"
     while the rating of Bank's Subordinated Bond I/2003 is upgraded to "idBBB+"
Budi Acid Jaya Tbk. (Released: September 21, 2004)
     PEFINDO affirmed the ratings of BUDI Bond I/2000 at to "idB+" and revised the outlook to "Negative"
Charoen Pokphand Indonesia Tbk. (Released: September 21, 2004)
     PEFINDO affirmed the ratings of CPIN Bond I/2003 at "idBBB" and assigned the Negative Outlook
Summarecon Agung Tbk. (Released: September 21, 2004)
     PEFINDO affirmed the ratings for PT Summarecon Agung Tbk Bond I/2003 at "idBBB".
 

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This document is for information only and for the use of the recipient. The ratings have been arrived by virtue of information supplied by applicants of which the accuracy and completeness are the sole responsibility of the applicants. These ratings do not constitute a recommendation to acquire, dispose of, or hold on to any debt instrument issued by virtue of, or related with, these ratings so that PEFINDO shall not liable for any damages/losses arising from, or related to, the utilization of these ratings does not advise nor give any option that any document issued by virtue of, or related to, these ratings are enforceable in accordance with its terms.