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Morningstar, PT Indonesia (Pefindo) set back idAA rank-(double A minus) for bonds of PT Oto Multiartha in 2007 valued at Rp 500 billion and ranked idAAA (triple A) the bonds of PT Summit Oto Finance Series C worth Rp 350 billion.

This was conveyed in a press release Pefindo, Tuesday (9/2/2010).

According Pefindo, Oto Multiartha readiness to pay the bonds maturing in 2007 is supported by the availability of cash and cash equivalents at December 31, 2009 amounted to Rp 1,214.7 billion in credit facilities and unused Rp 2391 billion, the reason for setting back the bond rating companies.

Simultaneously, Pefindo bond rating reaffirmed II PT Summit Oto Finance Series C worth Rp 350 billion in position idAAA (triple A). Bonds issued in the year 2007 will mature on March 8, 2010.

In addition, Pefindo also ranks A for the third year bonds series 2009 A worth Rp 200 billion which will mature on May 14, 2010.

Pefindo rate, the readiness of companies to repay the bonds, the credit facility supported by the existence of several banks that have not been used much as Rp 3.2 trillion as of December 31, 2009. Plus cash receipts from automotive financing business firms. Cash position was recorded Rp714 billion company until December 31, 2009.

In addition, the two bonds are guaranteed by the two financial instanis, Bank of Tokyo-UFJ Ltd. Mitshubisi as the primary guarantor and the Japan Bank of International Cooperation as a second guarantor.