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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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Steel Pipe Industry of Indonesia Tbk.

(ISSP)

Corporate Rating/Outlook idA Stable Updated on 7 Mar 2025

Press Release

To
Release Date Title
7 Sep 2021 PT Steel Pipe Industry of Indonesia Tbk rated "idA-" with stable outlook
6 Dec 2021 PT Steel Pipe Industry of Indonesia Tbk's bond rated "idA-"
11 Aug 2022 PEFINDO has affirmed its "idA-" ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its Shelf-Registered Bond I/2021.
8 Sep 2022 PEFINDO has affirmed "idA-" rating PT Steel Pipe Industry of Indonesia Tbk (ISSP)'s Shelf-Registered Bond I/2021 Phase I Seri A of IDR101 billion
17 Nov 2022 PEFINDO has affirmed its "idA-" ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its Shelf-Registered Bond I/2021
9 Dec 2022 PEFINDO has withdrawn the ratings of Obligasi Berkelanjutan I SPINDO Tahap I Tahun 2021 Seri A and Sukuk Ijarah Berkelanjutan I SPINDO Tahap I Tahun 2021 Seri A based on the full repayment of the debt instrument
10 Apr 2023 PEFINDO has assigned its idA- rating to PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s proposed Shelf-Registered Bond II/2022 of maximum IDR500 billion and its idA-(sy) rating to its proposed Shelf-Registered Sukuk Ijarah II/2022 of maximum IDR500 billi
6 Jun 2023 PEFINDO has affirmed its idA- rating for PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s Shelf-Registered Bond I/2022 Phase II Serie A and its idA(-sy) rating for Shelf-Registered Sukuk Ijarah I/2022 Phase II Serie A
3 Aug 2023 With the full repayment of Obligasi Berkelanjutan I SPINDO Tahap II Tahun 2022 Seri A and Sukuk Ijarah Berkelanjutan I SPINDO Tahap II Tahun 2022 Seri A issued by PT Steel Pipe Industry of Indonesia Tbk on August 3, 2023, PEFINDO has withdrawn the ratings
13 Nov 2023 PEFINDO has raised its ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding bonds to idA from previously idA-, as well as its outstanding sukuk to idA(sy) from previously idA-(sy)
4 Jan 2024 PEFINDO has affirmed its idA rating for PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s Shelf-Registered Bond II/2023 Phase I Serie A of IDR37.9 billion and idA(sy) rating for Shelf-Registered Sukuk Ijarah II/2023 Phase I Serie A of IDR3 billion that wil
25 Mar 2024 PEFINDO has affirmed its idA ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding bonds
16 Apr 2024 With the full repayment of Obligasi Berkelanjutan II Spindo Tahap I Tahun 2023 Seri A and Sukuk Ijarah Berkelanjutan II Spindo Tahap I Tahun 2023 Seri A on April 16, 2024, PEFINDO has withdrawn the ratings of the debt instruments
12 Jun 2024 PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s Shelf-Registered Bond II Phase II Year 2023 (rated idA) of IDR110.35 billion and Shelf-Registered Sukuk II Phase II Year 2023 (rated idA(sy)) of IDR59.65 billion will mature of August 15, 2024
3 Jul 2024 PEFINDO has assigned its idAAA(cg) rating to PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s proposed Sustainable Linked Bond I Year 2024 with a maximum of IDR1 trillion
15 Aug 2024 With the full repayment of Obligasi Berkelanjutan II Spindo Tahap II Tahun 2023 and Sukuk Ijarah Berkelanjutan II SPINDO Tahap II Tahun 2023 on August 15, 2024, issued by PT Steel Pipe Industry of Indonesia Tbk, PEFINDO has withdrawn the ratings of the de
9 Oct 2024 PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s Shelf-Registered Bond I Phase I Year 2021 Serie B (rated idA) of IDR49 billion and Shelf-Registered Sukuk Ijarah I Phase I Year 2021 Serie B (rated idA(sy)) of IDR51 billion will mature of December 2, 2024
2 Dec 2024 With the full repayment of Obligasi Berkelanjutan I SPINDO Tahap I Tahun 2021 Seri B and Sukuk Ijarah Berkelanjutan I SPINDO Tahap I Tahun 2021 Seri B on December 2, 2024, issued by PT Steel Pipe Industry of Indonesia Tbk, PEFINDO has withdrawn the rating
7 Mar 2025 PEFINDO has affirmed its idA ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding shelf-registered (SR) bond I and SR Bond II
14 Jul 2025 PT Steel Pipe Industry of Indonesia Tbk’s (ISSP) Shelf-Registered Bond I Phase II Year 2022 Series B (rated idA) of IDR135 billion and Shelf-Registered Sukuk Ijarah I Phase II Year 2022 Series B (rated idA(sy)) of IDR50 billion will be due on July 27, 202
28 Jul 2025 PT Steel Pipe Industry of Indonesia Tbk has fully repaid the following debt instruments Obligasi Berkelanjutan I SPINDO Tahap II Tahun 2022 Seri B and Sukuk Ijarah Berkelanjutan I SPINDO Tahap II Tahun 2022 Seri B
18 Feb 2026 PT Steel Pipe Industry of Indonesia Tbk’s (ISSP) following debt instruments will mature in the near term: Shelf-Registered Bond II Phase I Year 2023 Series B (rated idA) of IDR211.3 billion due on April 4, 2026

Rating Rationale

To
Release Date Title
7 Sep 2021 PT Steel Pipe Industry of Indonesia Tbk rated "idA-" with stable outlook
6 Dec 2021 PT Steel Pipe Industry of Indonesia Tbk's bond rated "idA-"
17 Nov 2022 PEFINDO has affirmed its "idA-" ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its Shelf-Registered Bond I/2021
10 Apr 2023 PEFINDO has assigned its idA- rating to PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s proposed Shelf-Registered Bond II/2022 of maximum IDR500 billion and its idA-(sy) rating to its proposed Shelf-Registered Sukuk Ijarah II/2022 of maximum IDR500 billi
7 Dec 2023 PEFINDO has raised its ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding bonds to idA from previously idA-, as well as its outstanding sukuk to idA(sy) from previously idA-(sy)
29 Apr 2024 PEFINDO has affirmed its idA ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding bonds
3 Jul 2024 PEFINDO has assigned its idAAA(cg) rating to PT Steel Pipe Industry of Indonesia Tbk (ISSP)’s proposed Sustainable Linked Bond I Year 2024 with a maximum of IDR1 trillion
26 Mar 2025 PEFINDO has affirmed its idA ratings to PT Steel Pipe Industry of Indonesia Tbk (ISSP) and its outstanding shelf-registered (SR) bond I and SR Bond II