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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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Sinar Mas Agro Resources and Technology Tbk.

(SMAR)

Corporate Rating/Outlook idAA- Stable Updated on 5 Mar 2025

Press Release

To
Release Date Title
5 Jun 2012 PEFINDO assigned its "idAA-"ratings for PT Sinar Mas Agro Resources and Technology Tbk and its proposed Shelf Registered Bond I/2012.
11 Apr 2013 Rating of SMAR & its Bond Raised to "idAA"
11 Apr 2014 Rating of SMAR & its Bond Lowered to "idAA-"
10 Apr 2015 PEFINDO has affirmed its "idAA-" ratings for SMAR
14 Dec 2015 PEFINDO revised the outlook of SMAR to "negative"
12 Apr 2016 PEFINDO has affirmed its "idAA-" ratings for SMAR, outlook maintained at "negative"
8 Sep 2016 PEFINDO lowered the ratings of SMAR and its Bond to "idA+"
11 Apr 2017 PEFINDO affirms the "idA+" ratings for SMAR and its Bond
17 Oct 2017 Ratings withdrawal of PT SMART Tbk and its bond
23 Jan 2020 PEFINDO assigns "idA+" rating to PT Sinar Mas Agro Resources and Technology Tbk
30 Mar 2020 PEFINDO assigns "idA+" rating to PT Sinar Mas Agro Resources and Technology Tbk's proposed Bond
13 Jan 2021 PT Sinar Mas Agro Resources and Technology Tbk rated "idA+" with stable outlook
24 Mar 2021 PT Sinar Mas Agro Resources and Technology Tbk rated "idA+" with stable outlook
14 Jun 2021 PEFINDO assigns "idA+" rating for proposed Shelf Registered Bond III Year 2021 of PT Sinar Mas Agro Resources and Technology Tbk
22 Jul 2021 PT Sinar Mas Agro Resources and Technology Tbk maturing bond rated "idA+"
29 Nov 2021 PT Sinar Mas Agro Resources and Technology Tbk maturing bond rated "idA+"
4 Mar 2022 The rating of PT Sinar Mas Agro Resources and Technology Tbk raised to "idAA-"
24 Mar 2022 PT Sinar Mas Agro Resources and Technology Tbk rated "idAA-" with stable outlook
19 Apr 2022 PT Sinar Mas Agro Resources and Technology Tbk maturing bond rated "idAA-"
20 Jun 2022 PEFINDO has withdrawn the rating of Obligasi Berkelanjutan III SMART Tahap I Tahun 2021 Seri A issued by PT Sinar Mas Agro Resources and Technology Tbk based on the full repayment of the debt instrument
4 Jul 2022 PEFINDO has assigned its "idAA-" rating to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)'s
28 Jul 2022 PEFINDO has affirmed its "idAA-" rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)'s Shelf-Registered Bond III/2021 Phase II Serie A of IDR477 billion
31 Oct 2022 PEFINDO has withdrawn the rating of Obligasi Berkelanjutan III SMART Tahap II Tahun 2021 Seri A based on the full repayment of the debt instrument
14 Nov 2022 PEFINDO has affirmed its "idAA-" rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)'s Shelf-Registered Bond III/2022 Phase III Serie A of IDR100 billion
20 Dec 2022 PEFINDO has affirmed its "idAA-" rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)'s Shelf-Registered Bond II/2020 Phase I Serie A of IDR608.5 billion
27 Feb 2023 With the full repayment of Obligasi Berkelanjutan III SMART Tahap III Tahun 2022 Seri A on February 27, 2023, PEFINDO has withdrawn the rating of the debt instrument
3 Mar 2023 PEFINDO has affirmed its “idAA-” ratings to PT Sinar Mas Agro Resources and Technology Tbk (SMAR), its Shelf Registered Bond II Year 2020, Shelf Registered Bond III Year 2021 and Shelf Registered Bond IV Year 2022
3 Apr 2023 With the full repayment of Obligasi Berkelanjutan II SMART Tahap I Tahun 2020 Seri A on April 3, 2023, PEFINDO has withdrawn the rating of the debt instrument
4 May 2023 PEFINDO has affirmed its idAA- rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf-Registered Bond IV/2022 Phase I Serie A of IDR560 billion
17 Jul 2023 With the full repayment of Obligasi Berkelanjutan IV SMART Tahap I Tahun 2022 Seri A on July 17, 2023, PEFINDO has withdrawn the rating of the debt instrument
17 Jul 2023 PEFINDO has affirmed its idAA- rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf-Registered Bond II/2020 Phase II Serie B of IDR280 billion due on October 22, 2023
23 Oct 2023 With the full repayment of Obligasi Berkelanjutan II SMART Tahap II Tahun 2020 Seri B issued by PT SMART Tbk on October 23, 2023, PEFINDO has withdrawn the rating of the debt instrument
13 Nov 2023 PEFINDO has affirmed its idAA- rating for PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf-Registered Bond II/2021 Phase III Serie B of IDR380 billion due on February 19, 2024
19 Feb 2024 With the full repayment of Obligasi Berkelanjutan II SMART Tahap III Tahun 2021 Seri B issued by PT SMART Tbk on February 19, 2024, PEFINDO has withdrawn the rating of the debt instrument
15 Mar 2024 PEFINDO has affirmed its idAA- rating with stable outlook to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)
10 Jun 2024 With the full repayment of Obligasi Berkelanjutan III SMART Tahap I Tahun 2021 Seri B on June 10, 2024, issued by PT SMART Tbk, PEFINDO has withdrawn the rating of the debt instrument
3 Jul 2024 PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s debt instrument will mature in the near term: Shelf-Registered (SR) Bond III/2021 Phase II Serie B (IDR1.065 trillion, rated idAA- due on October 19, 2024)
21 Oct 2024 With the full repayment of Obligasi Berkelanjutan III SMART Tahap II Tahun 2021 Seri B on October 21, 2024, issued by PT SMART Tbk, PEFINDO has withdrawn the rating of the debt instrument
12 Nov 2024 PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s debt instrument will mature in the near term: Shelf-Registered (SR) Bond III Phase III Year 2022 Serie B (IDR625.0 billion, rated idAAdue on February 16, 2025)
11 Dec 2024 PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s debt instrument will mature in the near term: Shelf-Registered (SR) Bond II Phase I Year 2020 Serie B (IDR166.5 billion, rated idAAdue on April 3, 2025)
17 Feb 2025 PT SMART Tbk has fully repaid its Obligasi Berkelanjutan III SMART Tahap III Tahun 2022 Seri B
5 Mar 2025 PEFINDO has affirmed its idAA- ratings to PT Sinar Mas Agro Resources and Technology Tbk (SMAR), its outstanding bond Shelf Registered Bonds II 2020-2021, Shelf Registered Bonds III 2021-2022, and Shelf Registered Bonds IV 2022
19 Mar 2025 PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf Registered Bond IV Phase I Year 2022 Serie B (rated idAA-) of IDR538 billion will be due on July 6, 2025
8 Apr 2025 PT SMART Tbk has fully repaid its Obligasi Berkelanjutan II SMART Tahap I Tahun 2020 Seri B
16 Jun 2025 PEFINDO has assigned its idAA- rating to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf-Registered Bond V and idAA-(sy) rating for its Shelf-Registered Sukuk Ijarah I of a maximum of IDR5 trillion and IDR2.5 trillion, respectively
7 Jul 2025 PT SMART Tbk has fully repaid its Obligasi Berkelanjutan IV SMART Tahap I Tahun 2022 Seri B
9 Jul 2025 PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf Registered Bond II Phase II Year 2020 Serie C (rated idAA-) of IDR548 billion will be due on October 22, 2025

Rating Rationale

To
Release Date Title
5 Jun 2012 PEFINDO assigned its "idAA-"ratings for PT Sinar Mas Agro Resources and Technology Tbk (SMAR or the Company)
11 Apr 2013 Rating of SMAR & its Bond Raised to "idAA"
11 Apr 2014 Rating of SMAR & its Bond Lowered to "idAA-"
10 Apr 2015 PEFINDO has affirmed its "idAA-" ratings for SMAR
12 Apr 2016 PEFINDO has affirmed its "idAA-" ratings for SMAR, outlook maintained at "negative"
11 Apr 2017 PEFINDO affirms the "idA+" ratings for SMAR and its Bond
23 Jan 2020 PEFINDO assigns "idA+" rating to PT Sinar Mas Agro Resources and Technology Tbk
30 Mar 2020 PEFINDO assigns "idA+" rating to PT Sinar Mas Agro Resources and Technology Tbk's proposed Bond
13 Jan 2021 PT Sinar Mas Agro Resources and Technology Tbk rated "idA+" with stable outlook
14 Jun 2021 PEFINDO assigns "idA+" rating for PT Sinar Mas Agro Resources and Technology Tbk's new bond
4 Mar 2022 The rating of PT Sinar Mas Agro Resources and Technology Tbk raised to "idAA-"
24 Mar 2022 PT Sinar Mas Agro Resources and Technology Tbk rated "idAA-" with stable outlook
4 Jul 2022 PEFINDO has assigned its "idAA-" rating to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)'s
3 Mar 2023 PEFINDO has affirmed its “idAA-” ratings to PT Sinar Mas Agro Resources and Technology Tbk (SMAR), its Shelf Registered Bond II Year 2020, Shelf Registered Bond III Year 2021 and Shelf Registered Bond IV Year 2022
22 Apr 2024 PEFINDO has affirmed its idAA- rating with stable outlook to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)
19 Mar 2025 PEFINDO has affirmed its idAA- ratings to PT Sinar Mas Agro Resources and Technology Tbk (SMAR), its outstanding bond Shelf Registered Bonds II 2020-2021, Shelf Registered Bonds III 2021-2022, and Shelf Registered Bonds IV 2022
16 Jun 2025 PEFINDO has assigned its idAA- rating to PT Sinar Mas Agro Resources and Technology Tbk (SMAR)’s Shelf-Registered Bond V and idAA-(sy) rating for its Shelf-Registered Sukuk Ijarah I of a maximum of IDR5 trillion and IDR2.5 trillion, respectively