Pertamina Obtains Baa2 from Moody鈥檚 & BBB from Fitch Ratings
Dear valued investors,
We are pleased to announce that Fitch Ratings has affirmed Pertamina’s credit rating based on the 2024 Full Year Audited Financial Statement. Meanwhile, Moody’s has updated their credit opinion for Pertamina’s credit rating based on the 2024 Full Year Audited Financial Statement. The following update are as follows:
|
|
Final Rating |
Standalone /Baseline |
Outlook |
Periodic Review Date |
Updated Credit Opinion |
 |
Baa2 |
baa3 |
Stable |
25 January 2025 |
13 May 2025 |
|
|
Final Rating |
Standalone /Baseline |
Outlook |
Affirmed Credit Rating |
Reaffirmed Credit Rating |
 |
BBB |
bbb- |
Stable |
25 April 2025 |
14 May 2025 |
This credit rating signifies Pertamina’s position as Indonesia’s leading integrated oil and gas company, backed by substantial upstream production capabilities and emphasize its comprehensive downstream operations, including refinery management, fuel distribution networks, and gas pipeline infrastructure, reinforcing Pertamina’s strategic significance within the energy sector.
Pertamina’s credit ratings also highlight its financial resilience, operational stability, and alignment with Indonesia’s sovereign rating. Moody’s assessment towards Pertamina’s standalone credit profile provides a one-notch uplift from the government of Indonesia (Baa2 stable) due to the high likelihood of extraordinary support from the government to the company. Meanwhile, Fitch’s evaluation towards Pertamina’s standalone credit profile acknowledges the company’s vertically integrated operations and balanced leverage profile, affirming its ability to maintain operational stability following the recent transfer of state ownership to Danantara with minimal associated risks.
Best regards,
Pertamina Investor Relations