LIST OF CREDIT RATING AGENCIES AND RATINGS RECOGNIZED FOR CREDIT RISK WEIGHTED ASSET (ATMR) CALCULATION
In accordance with the implementation of the Otoritas Jasa Keuangan Circular Letter No. 37/SEOJK.03/2016 concerning Credit Rating Agencies and Ratings Recognized by the Otoritas Jasa Keuangan, the following is the list of credit rating agencies and ratings recognized by Otoritas Jasa Keuangan:
Table 1
List of Credit Rating Agencies and Ratings Recognized by the Otoritas Jasa Keuangan
This table presents the list of all credit rating agencies recognized by the Otoritas Jasa Keuangan and the ratings issued by each agency.
Table 2
Minimum Investment Grade Ratings from Credit Rating Agencies Recognized by the Otoritas Jasa Keuangan
This table presents the ratings designated as the minimum investment grade in accordance with the implementation of Otoritas Jasa Keuangan regulations related to the use of investment grade ratings.
Table 3
Ratings One Notch Below Minimum Investment Grade from Credit Rating Agencies Recognized by the Otoritas Jasa Keuangan
This table presents the ratings designated as one notch below investment grade, in accordance with the implementation of Otoritas Jasa Keuangan regulations related to the use of such ratings.
Table 4
Mapping of Long-Term and Short-Term Ratings
This table provides a mapping of both long-term and short-term ratings from credit rating agencies recognized by the Otoritas Jasa Keuangan.
In relation to the use of ratings issued by credit rating agencies recognized by the Otoritas Jasa Keuangan, banks remain obligated to conduct their own assessments and are fully responsible for the use of the rating results from the respective credit rating agencies.
Table 1. List of Credit Rating Agencies and Ratings Recognized by the Indonesia Financial Services Authority
Credit Rating Agency
| Short-Term Ratings | Medium and Long-Term Ratings
|
Fitch Ratings
| F1+; F1; F2; F3; B; C; D
| "AAA; AA+; AA; AA-; A+; A; A-; BBB+; BBB; BBB-; BB+; BB; BB-; B+; B; B-; CCC; CC; C; RD; D"
|
Moody's Investor Service
| P-1; P-2; P-3; NP
| "Aaa; Aa1; Aa2; Aa3; A1; A2; A3; Baa1; Baa2; Baa3; Ba1; Ba2; Ba3; B1; B2; B3; Caa1; Caa2; Caa3; Ca; C"
|
Standard and Poor's
| "A-1; A-2; A-3; B; B-1; B-2; B-3; C; D"
| "AAA; AA+; AA; AA-; A+; A; A-; BBB+; BBB; BBB-; BB+; BB; BB-; B+; B; B-; CCC+; CCC; CCC-; CC; C; D"
|
PT Fitch Ratings Indonesia
| F1+(idn); F1(idn); F2(idn); F3(idn); B(idn); C(idn); D(idn)
| "AAA(idn); AA+(idn); AA(idn); AA-(idn); A+(idn); A(idn); A-(idn); BBB+(idn); BBB(idn); BBB-(idn); BB+(idn); BB(idn); BB-(idn); B+(idn); B(idn); B-(idn); CCC(idn); CC(idn); C(idn); RD(idn); D(idn)"
|
PT Pemeringkat Efek Indonesia
| idA1; idA2; idA3; idA4;idB; idC; idD
| "idAAA; idAA+; idAA; idAA-; idA+;idA; idA-; idBBB+; idBBB; idBBB-;idBB+; idBB; idBB-; idB+; idB;idB-; idCCC; idSD; idD"
|
PT Kredit Rating Indonesia
| "irA-1; irA-2; irA-3; irB; irC; irD"
| "irAAA; irAA+; irAA; irAA-; irA+; irA; irA-; irBBB+; irBBB; irBBB-; irBB+; irBB; irBB-; irB+; irB; irB-; irCCC; irSD; irD"
|
Table 2. Minimum Investment Grade Ratings from Recognized Credit Rating Agencies by the Indonesia Financial Services Authority
Credit Rating Agency
| Short-Term Ratings | Medium and Long-Term Ratings |
| Fitch Ratings | F3
| BBB-
|
Moody's Investor Service
| P-3
| Baa3 |
| Standard and Poor's | A-3
| BBB- |
| PT Fitch Ratings Indonesia | F3(idn)
| BBB-(idn) |
| PT Pemeringkat Efek Indonesia | idA4
| idBBB- |
| PT Kredit Rating Indonesia | irA-3
| irBBB-
|
Tabel 3. Ratings One Notch Below Minimum Investment Grade from Recognized Credit Rating Agencies by the Indonesia Financial Services Authority
Credit Rating Agency
| Short-Term Ratings | Medium and Long-Term Ratings
|
Fitch Ratings
| B
| BB+
|
Moody's Investor Service
| NP
| Ba1
|
Standard and Poor's
| B
| BB+
|
PT Fitch Ratings Indonesia
| B(idn)
| BB+(idn)
|
PT Pemeringkat Efek Indonesia
| idB
| idBB+
|
PT Kredit Rating Indonesia
| irB
| irBB+
|
Table 4. Rating Mapping
a. Long-Term Ratings
Domestic Credit Rating Agencies
| International Credit Rating Agencies
|
| PT Fitch Ratings Indonesia | PT Pemeringkat Efek Indonesia
| PT Kredit Rating Indonesia | Fitch Ratings | Moody's Investor Service | Standard and Poor's |
AAA(idn)
| idAAA | irAAA
| AAA | Aaa | AAA |
AA+(idn) s.d AA-(idn)
| idAA+ s.d idAA-
| irAA+ s.d. irAA-
| AA+ s.d AA- | Aa1 s.d Aa3
| AA+ s.d AA-
|
A+(idn) s.d A-(idn)
| idA+ s.d idA-
| irA+ s.d. irA-
| A+ s.d A- | A1 s.d A3 | A+ s.d A-
|
| BBB+(idn) s.d BBB-(idn) | idBBB+ s.d idBBB- | irBBB+ s.d. irBBB-
| BBB+ s.d BBB- | Baa1 s.d Baa3
| BBB+ s.d BBB- |
| BB+(idn) s.d BB-(idn) | idBB+ s.d idBB- | irBB+ s.d. irBB-
| BB+ s.d BB-
| Ba1 s.d Ba3
| BB+ s.d BB- |
B+(idn) s.d B-(idn)
| idB+ s.d idB-
| irB+ s.d. irB-
| B+ s.d B-
| B1 s.d B3 | B+ s.d B-
|
Kurang dari B-(idn)
| Kurang dari idB-
| Kurang dari irB-
| Kurang dari B-
| Kurang dari B3
| Kurang dari B-
|
b. Short-Term Ratings
Domestic Credit Rating Agencies
| International Credit Rating Agencies
|
| PT Fitch Ratings Indonesia | PT Pemeringkat Efek Indonesia
| PT Kredit Rating Indonesia | Fitch Ratings | Moody's Investor Service | Standard and Poor's |
F1+(idn) s.d F1 (idn)
| idA1
| irA-1
| F1+ s.d F1
| P-1 | A-1 |
F2(idn)
| idA2 | irA-2
| F2 | P-2 | A-2 |
| F3(idn) | idA3 s.d idA4 | irA-3
| F3 | P-3 | A-3 |
Kurang dari F3(idn)
| Kurang dari idA4
| Kurang dari irA-3
| Kurang dari F3
| Kurang dari P-3
| Kurang dari A-3
|
