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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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Perusahaan Listrik Negara (Persero)

(PPLN)

Corporate Rating/Outlook idAAA Stable Updated on 4 Jun 2025

Press Release

To
Release Date Title
12 Nov 2004 PEFINDO upgraded the ratings for PT (Persero) Perusahaan Listrik Negara to "idA-" from "idBBB-".
2 Aug 2005 PEFINDO upgraded its ratings for PT (Persero) Perusahaan Listrik Negara to "idA" from "idA-".
12 May 2006 PEFINDO affirmed its corporate rating of "idA" for PT (Persero) Perusahaan Listrik Negara (PLNG or the Company), and the Company's outstanding Bond VI/1997 of IDR600 billion.
29 Nov 2007 PEFINDO upgraded corporate rating of PT (Persero) Perusahaan Listrik Negara (PLNG or the Company) to "idA+" from "idA".
3 Mar 2008 PEFINDO upgraded corporate rating of PT (Persero) Perusahaan Listrik Negara to "idAA-" from "idA+".
28 Nov 2008 PEFINDO reaffirmed corporate rating of PT (Persero) Perusahaan Listrik Negara at "idAA-".
21 Jul 2009 PEFINDO reaffirmed corporate rating of PT (Persero) Perusahaan Listrik Negara at "idAA-".
17 Nov 2009 PEFINDO reaffirmed the corporate rating of PT (Persero) Perusahaan Listrik Negara at "idAA-".
12 May 2010 PEFINDO upgraded the corporate rating of PT (Persero) Perusahaan Listrik Negara to "idAA+" from "idAA-".
9 May 2011 PEFINDO affirmed the corporate rating of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara at "idAA+".
11 May 2012 PEFINDO affirmed the corporate rating of Perusahaan Perseroan (Persero) at "idAA+".
31 Jan 2013 PEFINDO's Government-Related Entities Rating Methodology
19 Mar 2013 The rating of PPLN's MTN year 2008-I Series is "idAAA"
3 May 2013 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's Bond and Sukuk are affirmed at "idAAA" and "idAAA(sy)"
18 Jun 2013 The ratings of proposed Shelf-Registered Bond and Sukuk Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara are "idAAA" and "idAAA(sy)"
3 Oct 2013 The ratings of PPLN's maturing bonds, sukuk, and MTN are "idAAA"
6 May 2014 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, its Bonds and Sukuks are affirmed at "idAAA" and "idAAA(sy)"
28 Aug 2014 The rating of PPLN's maturing bond is "idAAA"
15 May 2015 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, its Bonds and Sukuks are affirmed at "idAAA" and "idAAA(sy)"
16 Jun 2016 The ratings of PT Perusahaan Listrik Negara's maturing bond and Sukuk are "idAAA" and "idAAA(sy)"
1 Jul 2016 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, its Bonds and Sukuks are affirmed at "idAAA" and "idAAA(sy)"
22 Dec 2016 PEFINDO affirms the ratings of Perusahaan Perseroan [Persero] PT Perusahaan Listrik Negara maturing Bond and Sukuk at "idAAA" and "idAAA(sy)"
21 Apr 2017 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, its Bonds and Sukuks are affirmed at "idAAA" and "idAAA(sy)"
12 Apr 2018 PEFINDO affirms the ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara and its Bond at "idAAA", and its Sukuk at "idAAA(sy)"
3 Jul 2018 PEFINDO assigns "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's proposed shelf-registered bonds and sukuk
20 Sep 2018 PEFINDO affirms "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's maturing shelf-registered bond and sukuk ijarah
12 Apr 2019 PEFINDO affirms "idAAA" rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara
5 Nov 2019 PEFINDO affirms "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's maturing bond and sukuk ijarah
9 Apr 2020 PEFINDO affirms "idAAA" rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara
29 Jun 2020 PEFINDO affirms "idAAA" rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara
19 Aug 2020 PEFINDO assigns "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's proposed shelf-registered bond and sukuk
9 Jun 2021 PPLN rated "idAAA" with stable outlook
20 Dec 2021 PEFINDO affirms "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's maturing bond and sukuk ijarah
28 Apr 2022 PEFINDO affirms "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's maturing bond and sukuk ijarah
9 Jun 2022 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
8 Jul 2022 PEFINDO has withdrawn the ratings of Obligasi PLN XII Tahun 2010 Seri B and Sukuk Ijarah PLN V Tahun 2010 Seri B based on the full repayment of the debt instrument
11 Jul 2022 PEFINDO has withdrawn the ratings of Obligasi PLN IX Tahun 2007 Seri B, Obligasi Berkelanjutan II PLN Tahap I Tahun 2017 Seri A, and Sukuk Ijarah Berkelanjutan II PLN Tahap I Tahun 2017 Seri A based on the full repayment of the debt instrument
29 Aug 2022 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)'s Shelf-Registered Bond II Phase II Year 2017 Seri A and idAAA(sy) rating for PPLN's Shelf-Registered Sukuk Ijarah II Phase II Year 2017 Seri
3 Nov 2022 PEFINDO has withdrawn the ratings of Obligasi Berkelanjutan II PLN Tahap II Tahun 2017 Seri A and Sukuk Ijarah Berkelanjutan II PLN Tahap II Tahun 2017 Seri A based on the full repayment of the debt instrument
26 Dec 2022 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)'s Shelf-Registered Bond II Phase III Year 2018 Series A and idAAA(sy) rating for PPLN's Shelf-Registered Sukuk Ijarah II Phase III Year 2018 S
9 Feb 2023 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)'s Shelf-Registered Bond III Phase VII Year 2020 Series A
22 Feb 2023 With the full repayment of Obligasi Berkelanjutan II PLN Tahap III Tahun 2018 Seri A and Sukuk Ijarah Berkelanjutan II PLN Tahap III Tahun 2018 Seri A on February 22, 2023, PEFINDO has withdrawn the ratings of the debt instruments
8 May 2023 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Shelf Registered Bond I Phase I Year 2013 Series A, Shelf-Registered Sukuk III Phase I Year 2018 Series A, and Shelf-Registered Bond III Phase I
8 May 2023 With the full repayment of Obligasi Berkelanjutan III PLN Tahap VII Tahun 2020 Seri A on May 8, 2023, PEFINDO has withdrawn the rating of the debt instrument
13 Jun 2023 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
5 Jul 2023 With the full repayment of Obligasi Berkelanjutan I PLN Tahap I Tahun 2013 Seri B on July 5, 2023, PEFINDO has withdrawn the rating of the debt instrument
11 Jul 2023 With the full repayment of Obligasi Berkelanjutan III PLN Tahap I Tahun 2018 Seri A and Sukuk Ijarah Berkelanjutan III PLN Tahap I Tahun 2018 Seri A on July 10, 2023, PEFINDO has withdrawn the ratings of the debt instruments
9 Aug 2023 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Shelf Registered Bond III Phase II Year 2018 Series A of IDR210 billion and its idAAA(sy) rating for PPLN’s Shelf-Registered Sukuk Ijarah III Ph
10 Oct 2023 With the full repayment of Obligasi Berkelanjutan III PLN Tahap II Tahun 2018 Seri A and Sukuk Ijarah Berkelanjutan III PLN Tahap II Tahun 2018 Seri A issued by PT Perusahaan Listrik Negara (Persero) on Oktober 10, 2023, PEFINDO has withdrawn the ratings
11 Oct 2023 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Shelf Registered Bond I Phase II Year 2013 Series B of IDR651 billion and its idAAA(sy) rating for PPLN’s Shelf-Registered Sukuk Ijarah I Phase
4 Dec 2023 PEFINDO has affirmed its idAAA rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s Shelf Registered Bond III Phase III Year 2019 Series B of IDR1,212 billion and its idAAA(sy) rating for PPLN’s Shelf-Registered Sukuk Ijarah III
13 Dec 2023 With the full repayment of Obligasi Berkelanjutan I PLN Tahap II Tahun 2013 Seri B and Sukuk Ijarah Berkelanjutan I PLN Tahap II Tahun 2013 Seri B on December 11, 2023, PEFINDO has withdrawn the ratings of the debt instruments
19 Feb 2024 With the full repayment of Obligasi Berkelanjutan III PLN Tahap III Tahun 2019 Seri B and Sukuk Ijarah Berkelanjutan III PLN Tahap III Tahun 2019 Seri B issued by PT Perusahaan Listrik Negara (Persero) on February 19, 2024, PEFINDO has withdrawn the ratin
14 May 2024 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s debt instrument will mature in the near term: Shelf Registered Bond II Phase I Year 2017 Series B (IDR169 billion, rated idAAA, due on July 11, 2024
11 Jun 2024 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
12 Jul 2024 With the full repayment of Obligasi Berkelanjutan II PLN Tahap I Tahun 2017 Seri B on July 11, 2024, issued by PT Perusahaan Listrik Negara (Persero), PEFINDO has withdrawn the rating of the debt instrument
31 Jul 2024 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN)’s debt instruments will mature in the near term: Shelf Registered Bond III Phase V Year 2019 Series A (IDR795.7 billion, rated idAAA, due on October 1, 2024)
1 Aug 2024 With the full repayment of Obligasi Berkelanjutan III PLN Tahap IV Tahun 2019 Seri A and Sukuk Ijarah Berkelanjutan III PLN Tahap IV Tahun 2019 Seri A on August 1, 2024, issued by PT Perusahaan Listrik Negara (Persero), PEFINDO has withdrawn the ratings o
1 Oct 2024 With the full repayment of Obligasi Berkelanjutan III PLN Tahap V Tahun 2019 Seri A and Sukuk Ijarah Berkelanjutan III PLN Tahap V Tahun 2019 Seri A on October 1, 2024, issued by PT Perusahaan Listrik Negara (Persero), PEFINDO has withdrawn the ratings of
4 Nov 2024 With the full repayment of Obligasi Berkelanjutan II PLN Tahap II Tahun 2017 Seri B on November 4, 2024, issued by PT Perusahaan Listrik Negara (Persero), PEFINDO has withdrawn the rating of the debt instrument
13 Nov 2024 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PLN)’s debt instruments will mature in the near term: Shelf Registered Bond III Phase VI Year 2020 Series A (IDR540.63 billion, rated idAAA, due on February 18, 2025)
28 Jan 2025 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PLN)’s debt instruments will mature in the near term: Shelf Registered Bond II Phase III Year 2018 Series B (IDR10 billion, rated idAAA, due on February 22, 2025)
18 Feb 2025 PT Perusahaan Listrik Negara (Persero) has fully repaid its Obligasi Berkelanjutan III PLN Tahap VI Tahun 2020 Seri A
25 Feb 2025 PT Perusahaan Listrik Negara (Persero) has fully repaid its Obligasi Berkelanjutan II PLN Tahap III Tahun 2018 Seri B
24 Mar 2025 PT Perusahaan Listrik Negara (Persero) (PPLN)’s following debt instruments will mature on July 10, 2025: Shelf Registered Bond III Phase I Year 2018 Series B (rated idAAA) of IDR442 billion
6 May 2025 PT Perusahaan Listrik Negara (Persero) has fully repaid its Obligasi Berkelanjutan III PLN Tahap VII Tahun 2020 Seri B (rated idAAA) amounting to IDR99,155,000,000 on May 6, 2025
26 May 2025 PT Perusahaan Listrik Negara (Persero) (PPLN)’s following debt instruments will mature on September 8, 2025: Shelf Registered Sukuk Ijarah IV Phase I 2020 Series A (rated idAAA(sy)) of IDR39 billion
4 Jun 2025 PT Perusahaan Listrik Negara (Persero) (PPLN) rated idAAA with stable outlook
30 Jun 2025 PT Perusahaan Listrik Negara (Persero) (PPLN)’s following debt instruments will mature on October 10, 2025: Shelf Registered Bond III Phase II 2018 Series B (rated idAAA) of IDR483 billion
10 Jul 2025 PT Perusahaan Listrik Negara (Persero) has fully repaid the following debt instruments Obligasi Berkelanjutan III PLN Tahap I Tahun 2018 Seri B and Sukuk Ijarah Berkelanjutan III PLN Tahap I Tahun 2018 Seri B
8 Sep 2025 PT Perusahaan Listrik Negara (Persero) has fully repaid the following debt instruments Obligasi Berkelanjutan IV PLN Tahap I Tahun 2020 Seri A and Sukuk Ijarah Berkelanjutan IV PLN Tahap I Tahun 2020 Seri A

Rating Rationale

To
Release Date Title
29 Nov 2007 PEFINDO upgraded corporate rating of PT (Persero) Perusahaan Listrik Negara (PLNG or the Company)
28 Nov 2008 PEFINDO reaffirmed corporate rating of PLNG, the Company's Bond and the Company's Sukuk Ijarah at "idAA-" and "idAA-(sy)"
21 Jul 2009 PEFINDO reaffirmed corporate rating of PT (Persero) Perusahaan Listrik Negara (PLNG or the Company)
17 Nov 2009 PEFINDO reaffirmed the corporate rating of PT (Persero) Perusahaan Listrik Negara (PLNG or the Company)
12 May 2010 PEFINDO upgraded the corporate rating of PT (Persero) Perusahaan Listrik Negara (PPLN or the Company)
9 May 2011 PEFINDO affirmed the corporate rating of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN or the Company)
15 May 2012 PEFINDO affirmed the corporate rating of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN or the Company)
3 May 2013 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's Bond and Sukuk are affirmed at "idAAA" and "idAAA(sy)"
18 Jun 2013 The ratings of proposed Shelf-Registered Bond and Sukuk Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara are "idAAA" and "idAAA(sy)"
6 May 2014 The ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara, its Bonds and Sukuks are affirmed at "idAAA" and "idAAA(sy)"
12 Apr 2018 PEFINDO affirms the ratings of Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara and its Bond at "idAAA", and its Sukuk at "idAAA(sy)"
3 Jul 2018 PEFINDO assigns "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's proposed shelf-registered bonds and sukuk
12 Apr 2019 PEFINDO affirms "idAAA" rating for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara
3 Jul 2020 PEFINDO affirms "idAAA" ratings to Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara
19 Aug 2020 PEFINDO assigns "idAAA" and "idAAA(sy)" ratings for Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara's proposed shelf-registered bond and sukuk
9 Jun 2021 PPLN rated "idAAA" with stable outlook
15 Jun 2022 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
27 Jun 2023 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
3 Jul 2024 Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara (PPLN) rated idAAA with stable outlook
30 Jun 2025 PT Perusahaan Listrik Negara (Persero) (PPLN) rated idAAA with stable outlook