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Ratings Report

Ratings Report

Peringkat Kredit adalah opini PEFINDO atas kelayakan kredit atas suatu obligor, atau kelayakan kredit obligor terkait suatu surat utang atau kewajiban keuangan lainnya.

Ratings Report

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Indosat Tbk.

(ISAT)

Corporate Rating/Outlook idAAA Stable Updated on 16 May 2025

Press Release

To
Release Date Title
4 May 2005 PEFINDO assigned "idAA+" ratings to PT Indosat Tbk.
31 May 2006 PEFINDO reaffirmed its "idAA+" ratings for PT Indosat Tbk.
4 May 2007 PEFINDO reaffirmed the ratings for PT Indosat Tbk. and the Company's outstanding Bonds at "idAA+(sy)".
9 Aug 2007 PEFINDO reaffirmed its "idAA+" ratings for PT Indosat Tbk.
29 Nov 2007 PEFINDO views that the decision made by the Commission for the Supervision of Business Competition (KPPU) has no immediate impact on the ratings of PT Indosat Tbk. and its outstanding bonds as it will have impact more on the Company's shareholders level.
27 Feb 2008 PEFINDO reaffirmed the ratings for PT Indosat Tbk.and the Company's outstanding Bonds at "idAA+".
23 Jun 2008 PEFINDO views that the acquisition by Qatar Telecom QSC (QTEL) of the interest of Asia Mobile Holdings Pte. Ltd. (AMH) in PT Indosat Tbk. should not have an immediate impact on ISAT's debt payment capability.
4 Sep 2008 PEFINDO reaffirmed its "idAA+" rating for PT Indosat Tbk.'s Bond III/2003 Series A totaling IDR1.86 trillion that will mature on October 22, 2008.
19 Mar 2009 PEFINDO reaffirmed the ratings for PT Indosat Tbk. and the Company's outstanding Bonds at "idAA+".
30 Sep 2009 PEFINDO maintained the ratings at "idAA+" for PT Indosat Tbk.
7 Dec 2009 PEFINDO maintained the ratings at "idAA+" for PT Indosat Tbk.
21 Jul 2010 PEFINDO affirmed "idAA+" rating of PT Indosat Tbk's Bond III/2003 Series B that will mature on October 22, 2010.
5 Oct 2010 PEFINDO revised the outlook of the ratings for PT Indosat Tbk. to "stable" from "negative".
21 Mar 2011 PEFINDO affirmed "idAA+" rating of PT Indosat Tbk's Bond IV Year 2005 and "idAA+(sy)" rating of Sharia Ijarah Year 2005 that will mature on June 21, 2011.
10 Oct 2011 PEFINDO affirmed its ratings of "idAA+" for PT Indosat Tbk.
28 Feb 2012 PEFINDO views that the sale agreement of 2,500 towers owned by PT Indosat Tbk. has no immediate impact to the ratings of the Company.
22 Mar 2012 PEFINDO affirmed its ratings of "idAA+" for PT Indosat Tbk.
26 Dec 2012 ISAT's maturing bonds & sukuk affirmed at idAA+.
13 Mar 2013 Peringkat ISAT Tetap "idAA+"
14 Mar 2013 ISAT's Rating Affirmed at "idAA+"
12 Mar 2014 ISAT's Rating Affirmed at "idAA+"
25 Sep 2014 ISAT's Rating Raised to "idAAA"
5 Nov 2014 "idAAA" Rating Assigned to ISAT's Proposed Shelf Registration Bond
3 Feb 2015 ISAT's maturing bond affirmed at idAAA
14 Sep 2015 Ratings on ISAT and its bonds affirmed at "idAAA"
18 May 2016 ISAT's maturing bonds affirmed at "idAAA"
15 Aug 2016 PEFINDO affirmed its "idAAA" rating for PT Indosat Tbk
30 Nov 2016 PEFINDO affirms its "idAAA" rating for ISAT's maturing bond
17 Mar 2017 PEFINDO affirms its "idAAA" ratings for PT Indosat Tbk and its bonds
27 Apr 2017 PEFINDO assigns its "idAAA" rating for Indosat's new bond and sukuk
21 Aug 2017 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for ISAT's maturing bond and sukuk
13 Mar 2018 PEFINDO affirms "idAAA" ratings for Indosat and its bonds including the maturing bonds
7 Nov 2018 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bonds and sukuk
6 Dec 2018 PEFINDO affirms "idAAA" ratings for PT Indosat Tbk and its bonds
25 Jan 2019 PEFINDO assigns "idAAA" rating for PT Indosat Tbk's new bond
14 Mar 2019 PEFINDO affirms its "idAAA" rating for Indosat's maturing bond
30 Apr 2019 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
4 Jul 2019 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
11 Oct 2019 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
13 Dec 2019 PEFINDO affirms "idAAA" ratings for PT Indosat Tbk and its bonds and "idAAA(sy)" ratings for its sukuk
10 Jan 2020 PEFINDO menegaskan peringkat "idAAA" untuk PT Indosat Tbk dan obligasinya dan "idAAA(sy)" untuk sukuk
31 Mar 2020 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
3 Jun 2020 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
2 Sep 2020 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bonds and sukuk
10 Dec 2020 PEFINDO affirms "idAAA" ratings for PT Indosat Tbk and its bonds, "idAAA(sy)" rating for sukuk
4 Mar 2021 PEFINDO affirms its "idAAA" rating for Indosat's maturing bond
18 Jun 2021 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
21 Sep 2021 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
28 Sep 2021 PEFINDO places PT Indosat Tbk's outlook at CreditWatch with Negative Implication following the merger plan
8 Oct 2021 PEFINDO menyematkan "CreditWatch dengan Implikasi Negatif" terhadap prospek PT Indosat Tbk terkait rencana penggabungan usaha
10 Dec 2021 PT Indosat Tbk rated "idAAA", outlook revised to stable
1 Mar 2022 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
26 Apr 2022 PEFINDO affirms its "idAAA" and "idAAA(sy)" ratings for Indosat's maturing bond and sukuk
25 May 2022 PT Indosat Tbk rated "idAAA"
6 Jun 2022 PEFINDO has withdrawn the rating of Obligasi Berkelanjutan I Indosat Tahap II Tahun 2015 Seri D and Sukuk Ijarah Berkelanjutan I Indosat Tahap II Tahun 2015 Seri D
27 Jun 2022 PEFINDO has withdrawn the rating of Obligasi Indosat VIII Tahun 2012 Seri B based on the full repayment of the debt instrument
25 Jul 2022 PEFINDO has withdrawn the ratings of Obligasi Berkelanjutan III Indosat Tahap II Tahun 2019 Seri B and Sukuk Ijarah Berkelanjutan III Indosat Tahap II Tahun 2019 Seri B based on the full repayment of the debt instrument
4 Aug 2022 PEFINDO has affirmed its idAAA ratings for PT Indosat Tbk (ISAT)'s Shelf-Registered Bond II Phase II Year 2017 Seri C of IDR498.0 billion and Shelf-Registered Sukuk Ijarah II Phase II Year 2017 Seri C of IDR14.0 billion
22 Aug 2022 PEFINDO has affirmed its idAAA rating for PT Indosat Tbk (ISAT)'s Shelf-Registered Bond I Phase III Year 2015 Seri C of IDR130.0 billion and idAAA(sy) rating for ISAT's Shelf-Registered Sukuk Ijarah I Phase III Year 2015 Seri A of IDR65.0 billion
18 Oct 2022 PEFINDO has assigned its "idAAA" rating for PT Indosat Tbk (ISAT)'s Shelf-Registered Bond IV Year 2022 of a maximum of IDR10.5 trillion and its "idAAA(sy)" rating for ISAT's Shelf-Registered Sukuk Ijarah IV Year 2022 of a maximum of IDR4.5 tri
9 Nov 2022 PEFINDO has withdrawn the ratings of Obligasi Berkelanjutan II Indosat Tahap II Tahun 2017 Seri C and Sukuk Ijarah Berkelanjutan II Indosat Tahap II Tahun 2017 Seri C based on the full repayment of the debt instrument
8 Dec 2022 PEFINDO has withdrawn the ratings of Obligasi Berkelanjutan I Indosat Tahap III Tahun 2015 Seri C and Sukuk Ijarah Berkelanjutan I Indosat Tahap III Tahun 2015 Seri A issued by PT Indosat Tbk based on the full repayment of the debt instrument on December
16 Feb 2023 PEFINDO has affirmed its idAAA rating for PT Indosat Tbk (ISAT)'s Shelf-Registered Bond II Phase III Year 2018 Seri C of IDR98.0 billion
4 May 2023 With the full repayment of Obligasi Berkelanjutan II Indosat Tahap III Tahun 2018 Seri C on May 3, 2023, PEFINDO has withdrawn the rating of the debt instrument
8 May 2023 PEFINDO has affirmed its “idAAA” ratings for PT Indosat Tbk (ISAT)’s outstanding bonds and “idAAA(sy)” ratings for ISAT’s outstanding sukuk
4 Sep 2023 With the full repayment of Obligasi Berkelanjutan I Indosat Tahap IV Tahun 2016 Seri D issued by PT Indosat Tbk on September 4, 2023, PEFINDO has withdrawn the rating of the debt instrument
22 Dec 2023 PEFINDO has affirmed its idAAA rating for PT Indosat Tbk (ISAT)’s Shelf-Registered Bond III Phase I Year 2019 Seri C of IDR185.0 billion and its idAAA(sy) rating for ISAT’s Shelf-Registered Sukuk Ijarah III Phase I Year 2019 Seri C of IDR29.0 billion
5 Mar 2024 With the full repayment of Obligasi Berkelanjutan III Indosat Tahap I Tahun 2019 Seri C and Sukuk Ijarah Berkelanjutan III Indosat Tahap I Tahun 2019 Seri C on March 5, 2024, PEFINDO has withdrawn the ratings of the debt instruments
26 Mar 2024 PEFINDO has affirmed its idAAA rating for PT Indosat Tbk (ISAT)’s Shelf-Registered Bond II Phase I Year 2017 Seri D of IDR378.0 billion and its idAAA(sy) rating for ISAT’s Shelf-Registered Sukuk Ijarah II Phase I Year 2017 Seri C of IDR60.0 billion
13 May 2024 PEFINDO has affirmed its idAAA ratings for PT Indosat Tbk (ISAT) and the Company’s outstanding bonds as well as its idAAA(sy) ratings for ISAT’s outstanding sukuk
27 May 2024 PT Indosat Tbk (ISAT)’s Shelf-Registered Bond III Phase II Year 2019 Seri C (rated idAAA) of IDR67.0 billion and Shelf-Registered Sukuk Ijarah III Phase II Year 2019 Seri C (rated idAAA(sy)) of IDR404.0 billion will be due on July 23, 2024
31 May 2024 With the full repayment of Obligasi Berkelanjutan II Indosat Tahap I Tahun 2017 Seri D and Sukuk Ijarah Berkelanjutan II Indosat Tahap I Tahun 2017 Seri C on May 31, 2024, issued by PT Indosat Tbk, PEFINDO has withdrawn the ratings of the debt instruments
23 Jul 2024 With the full repayment of Obligasi Berkelanjutan III Indosat Tahap II Tahun 2019 Seri C and Sukuk Ijarah Berkelanjutan III Indosat Tahap II Tahun 2019 Seri C on July 23, 2024, issued by PT Indosat Tbk, PEFINDO has withdrawn the rating of the debt instrum
1 Aug 2024 PT Indosat Tbk (ISAT)’s Shelf-Registered Bond II Phase II Year 2017 Seri D (rated idAAA) of IDR21.0 billion and Shelf-Registered Sukuk Ijarah II Phase II Year 2017 Seri D (rated idAAA(sy)) of IDR13.0 billion will be due on November 9, 2024
3 Sep 2024 PT Indosat Tbk (ISAT)’s Shelf-Registered Bond I Phase I Year 2014 Seri D (rated idAAA) of IDR360.0 billion will be due on December 12, 2024
11 Nov 2024 With the full repayment of Obligasi Berkelanjutan II Indosat Tahap II Tahun 2017 Seri D and Sukuk Ijarah Berkelanjutan II Indosat Tahap II Tahun 2017 Seri D on November 11, 2024, issued by PT Indosat Tbk, PEFINDO has withdrawn the ratings of the debt inst
12 Dec 2024 With the full repayment of Obligasi Berkelanjutan I Indosat Tahap I Tahun 2014 Seri D on December 12, 2024, issued by PT Indosat Tbk, PEFINDO has withdrawn the rating of the debt instrument
28 Jan 2025 PT Indosat Tbk (ISAT)’s Shelf-Registered Bond II Phase III Year 2018 Seri D (rated idAAA) of IDR266.0 billion will be due on May 3, 2025. ISAT plans to repay the maturing debt instruments using internal funds, with reported cash balance of around IDR4.0 t
28 Feb 2025 PT Indosat Tbk [ISAT]’s following debt instruments will mature on June 4, 2025: Shelf Registered Bond I Phase II Year 2015 Serie E (rated idAAA) of IDR427.0 billion
5 May 2025 PT Indosat Tbk has fully repaid its Obligasi Berkelanjutan II Indosat Tahap III Tahun 2018 Seri D
16 May 2025 PEFINDO has affirmed its idAAA ratings for PT Indosat Tbk (ISAT) and ISAT’s outstanding bonds, as well as its idAAA(sy) ratings for the Company’s outstanding sukuk
4 Jun 2025 PT Indosat Tbk has fully repaid the following debt instruments Obligasi Berkelanjutan I Indosat Tahap II Tahun 2015 Seri E and Sukuk Ijarah Berkelanjutan I Indosat Tahap II Tahun 2015 Seri E
15 Jul 2025 PT Indosat Tbk [ISAT]’s following debt instruments will mature on October 26, 2025: Shelf Registered Bond IV Indosat Phase I Year 2022 Serie A (rated idAAA) of IDR875.0 billion.
27 Oct 2025 PT Indosat Tbk has fully repaid the following debt instruments Obligasi Berkelanjutan IV Indosat Tahap I Tahun 2022 Seri A and Sukuk Ijarah Berkelanjutan IV Indosat Tahap I Tahun 2022 Seri A
30 Oct 2025 PT Indosat Tbk [ISAT]’s following debt instruments will mature on December 8, 2025: Shelf Registered Bond I Indosat Phase III Year 2015 Serie D (rated idAAA) of IDR162.0 billion.
20 Nov 2025 PT Indosat Tbk [ISAT]’s following debt instruments will mature on March 5, 2026: Shelf Registered Bond III Indosat Phase I Year 2019 Serie D (rated idAAA) of IDR45.0 billion
8 Dec 2025 PT Indosat Tbk has fully repaid the following debt instruments Obligasi Berkelanjutan I Indosat Tahap III Tahun 2015 Seri D and Sukuk Ijarah Berkelanjutan I Indosat Tahap III Tahun 2015 Seri B

Rating Rationale

To
Release Date Title
4 May 2005 PEFINDO assigned "idAA+" ratings to PT Indosat Tbk (ISAT or the Company) and its proposed IDR1.15 trillion Bond IV/2005
31 May 2006 PEFINDO reaffirmed its "idAA+" ratings for ISAT and the Company's outstanding Bonds II/2002, Bonds III/2003 and Bond IV/2005
27 Feb 2008 PEFINDO reaffirmed the ratings for PT Indosat Tbk. (ISAT or the Company) and the Company's outstanding Bonds
19 Mar 2009 PEFINDO reaffirmed the ratings for PT Indosat Tbk. (ISAT or the Company) and the Company's outstanding Bonds II/2002
30 Sep 2009 PEFINDO maintained the ratings at "idAA+" for PT Indosat Tbk. (ISAT or the Company)
7 Dec 2009 PEFINDO maintained the ratings at "idAA+" for PT Indosat Tbk. (ISAT or the Company)
18 Oct 2010 EFINDO revised the outlook of the ratings for PT Indosat Tbk. (ISAT or the Company) and its Bonds totaling to IDR1.5 trillion, to "stable" from "negative".
10 Oct 2011 PEFINDO affirmed its ratings of "idAA+" for PT Indosat Tbk. (ISAT or the Company)
16 Apr 2012 PEFINDO affirmed its ratings of "idAA+" for PT Indosat Tbk. (ISAT or the Company)
18 Jun 2012 PEFINDO affirmed its ratings of "idAA+" for PT Indosat Tbk. (ISAT or the Company)
14 Mar 2013 ISAT's Rating Affirmed at "idAA+"
25 Sep 2014 ISAT's Rating Raised to "idAAA"
5 Nov 2014 "idAAA" Rating Assigned to ISAT's Proposed Shelf Registration Bond
14 Sep 2015 Ratings on ISAT and its bonds affirmed at "idAAA"
15 Aug 2016 PEFINDO affirmed its "idAAA" rating for PT Indosat Tbk
17 Mar 2017 PEFINDO affirms its "idAAA" ratings for PT Indosat Tbk and its bonds
27 Apr 2017 PEFINDO assigns its "idAAA" rating for Indosat's new bond and sukuk
13 Mar 2018 PEFINDO affirms "idAAA" ratings for Indosat and its bonds including the maturing bonds
6 Dec 2018 PEFINDO affirms "idAAA" ratings for PT Indosat Tbk and its bonds
25 Jan 2019 PEFINDO assigns "idAAA" rating for PT Indosat Tbk's new bond
10 Dec 2020 PEFINDO affirms "idAAA" ratings for PT Indosat Tbk and its bonds, "idAAA(sy)" rating for sukuk
8 Oct 2021 PEFINDO places PT Indosat Tbk's outlook at CreditWatch with Negative Implication following the merger plan
10 Dec 2021 PT Indosat Tbk rated "idAAA", outlook revised to stable
31 May 2022 PT Indosat Tbk's proposed shelf registered bond and sukuk rated "idAAA"
18 Oct 2022 PEFINDO has assigned its "idAAA" rating for PT Indosat Tbk (ISAT)'s Shelf-Registered Bond IV Year 2022 of a maximum of IDR10.5 trillion and its "idAAA(sy)" rating for ISAT's Shelf-Registered Sukuk Ijarah IV Year 2022 of a maximum of IDR4.5 tri
19 May 2023 PEFINDO has affirmed its “idAAA” ratings for PT Indosat Tbk (ISAT)’s outstanding bonds and “idAAA(sy)” ratings for ISAT’s outstanding sukuk
6 Jun 2024 PEFINDO has affirmed its idAAA ratings for PT Indosat Tbk (ISAT) and the Company’s outstanding bonds as well as its idAAA(sy) ratings for ISAT’s outstanding sukuk
9 Jun 2025 PEFINDO has affirmed its idAAA ratings for PT Indosat Tbk (ISAT) and ISAT’s outstanding bonds, as well as its idAAA(sy) ratings for the Company’s outstanding sukuk