07 February 2014
PEFINDO affirmed its "idAA-" ratings for PT Mayora Indah Tbk. (MYOR or the Company) and its Bond IV/2012 and "idAA-(sy)" rating for the Company's Sukuk Mudharabah II/2012. The outlook of the corporate rating is "stable". The ratings reflect the Company's strong position in the domestic packaged food market, well diversified product offering with the increasing contribution from overseas market, and strong cash flow protection measures. However, the ratings are constrained by the Company's exposure to the fluctuation of raw material costs and tight competition in the industry.
PEFINDO affirmed its "idAA-" ratings for PT Mayora Indah Tbk. (MYOR or the Company) and its Bond IV/2012 and "idAA-(sy)" rating for the Company's Sukuk Mudharabah II/2012. The outlook of the corporate rating is "stable". The ratings reflect the Company's strong position in the domestic packaged food market, well diversified product offering with the increasing contribution from overseas market, and strong cash flow protection measures. However, the ratings are constrained by the Company's exposure to the fluctuation of raw material costs and tight competition in the industry.
MYOR is one of the well-known manufacturers of packaged food or snack in Indonesia with a wide range of food products divided into six product categories i.e. Biscuits, Candies, Wafer, Coffee, Chocolate, and Healthy Food. The flagship brands include Roma, Royal Choice, and Danisa for biscuit, Kopiko and Kis (candies), Torabika (coffee), Astor and Beng-Beng (wafer), Choki-Choki (chocolate), and Energen (healthy food). The Company's production facilities are located in Cibitung and Tangerang. As of September 30, 2013, the Company's shareholders consisted of PT Unita Branindo (32.9%) and others (67.1%).
© Press Release 2014
