Fitch Affirms Pertamina at ‘BBB’ Outlook and Pertamina’s Appointment for New Board of Directors
Dear investors,
We are delighted to share with you that as of 31st January 2024, Fitch Ratings has affirmed Pertamina’s Long-Term Foreign-Currency Issuer Default Rating at ‘BBB’ with a stable outlook. The following rating depicts Pertamina’s stability as a leading business and support from government through favorable timely compensation receipts along with support incentive, robust EBITDA, and significant CAPEX Initiatives.
Additionally, the Indonesian government, through the Minister of State-Owned Enterprises (SOE) as the Shareholders (GMS) of PT Pertamina (Persero), has changed the composition of the Directors of PT Pertamina (Persero).
Wiko Margontoro was appointed as the Vice President Director of PT Pertamina (Persero), while Ahmad Siddik Badruddin as the Director of Risk Management of PT Pertamina (Persero).
Before the appointment, Wiko Margontoro served as the President Director of PT Pertamina Hulu Energi, an Upstream Subholding of Pertamina. Ahmad Siddik Badruddin served as the Director of Risk Management of Bank Mandiri, before being chosen as Director of Risk Management of PT Pertamina (Persero).
“In the future, Pertamina will work more aggressively and swiftly, prioritizing risk management. With this new board of directors, Pertamina is optimistic about achieving its goal of becoming a leading energy company” said VP Corporate Communication, Fadjar Djoko Santoso.
The following appointment of Pertamina's Directors composition is as follows:
- President Director & CEO : Nicke Widyawati
- Vice President Director : Wiko Migantoro
- Director of Risk Management : Ahmad Siddik Badruddin
- Director of Strategy, Portfolio & New Ventures : A. Salyadi Dariah Saputra
- Director of Logistics & Infrastructure : Alfian Nasution
- Director of Finance : Emma Sri Martini
- Director of Business Support : Erry Widiastono
- Director of Human Capital : M Erry Sugiharto
To learn more about our latest news and investor information, please visit our website: https://www.pertamina.com/en/Investor-relations
We sincerely appreciate your continued and profound interest in Pertamina. If you have any questions regarding this email or any other matters related to Pertamina’s scope of business, please do not hesitate to contact our Investor Relations Team at pertamina_ir@pertamina.com
Best regards,
Pertamina Investor Relations