June 5, 2026 | 05:11 pm
TEMPO.CO, Jakarta - Moody's Ratings has assigned a Baa2 medium-grade credit rating to PT Danantara Investment Management (DIM), with a negative outlook that mirrors the credit rating of the Indonesian government. This assessment reflects a strong institutional credit linkage with the state.In response to the evaluation, the Daya Anagata Nusantara Investment Management Agency (BPI Danantara) stated that the rating marks a significant milestone in its institutional development. It is also viewed as an affirmation of the institution's fundamental strength as it continues to step up engagement with global financial markets."DIM's rating and outlook reflect and are consistent with Indonesia's sovereign rating, which is common for entities with deep country linkages," the Danantara Communication Team noted in a statement released on Friday, June 5, 2026.Danantara views this recognition as further bolstering confidence in its long-term strategy, governance, and market positioning. This alignment supports ongoing efforts to expand access to international funding and advance Indonesia's broader economic priorities.Rachel Chua, Vice President and Senior Analyst at Moody's Ratings, stated that the decision reflects the tight credit correlation between DIM and the state, including its ownership structure within the Danantara institutional framework and our expectation of extraordinary government support provided in a timely manner.Moody's classifies DIM as a Government-Related Issuer (GRI) and applied a top-down analytical approach. No Baseline Credit Assessment (BCA) was assigned, reflecting DIM's newly formed development stage, limited track record, and absence of meaningful independent commercial operations.The rating agency assessed DIM's liquidity as highly robust. DIM has already established external funding channels, including raising Rp68.4 trillion through the issuance of Patriot Bonds and securing a US$10 billion revolving credit facility, of which US$1 billion has been committed.DIM has no obligation to pay dividends and faces no debt maturities for the next two to three years, according to details published on Moody's official website on Wednesday, June 3, 2026.The primary driver behind the credit rating is governance, as the evaluation factors in the state's full ownership of DIM through BPI Danantara, alongside strict government oversight regarding its corporate strategies, funding, and investment choices.Moody's noted that an upward rating shift for DIM remains unlikely at present, given the negative outlook hovering over the Indonesian government's sovereign rating. Over the long term, the asset manager's rating is expected to move in lockstep with the sovereign score. Any eventual upgrade to the country's credit rating could trigger a positive shift for DIM, provided its core relationship with the government remains intact.Moody's concluded on its official website that ratings could also come under pressure if there is a weakening of its relationship with the government, including changes in mandate, ownership, or its role within the Danantara structure that reduce our expectation of timely, extraordinary state support.Read: Is Danantara Requiring Rich Indonesians to Buy Merah Putih Bonds?Click here to get the latest news updates from Tempo on Google News
