1948 - 2024

Raisis Arifin Panigoro

Advisor of MedcoEnergi

It is with heavy heart that we announce the passing of Ibu Raisis Arifin Panigoro, MedcoEnergi's Advisor (2022 - 2024). Her service and contribution made her a role model for all of us.

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Login | Tuesday, 23 July 2024 |

MedcoEnergi Receives Credit Upgrade from S&P Global Ratings

Media Release


MedcoEnergi Receives Credit Upgrade from S&P Global Ratings

Jakarta, Indonesia, June 27, 2024 – PT Medco Energi Internasional Tbk (MedcoEnergi) reports a credit upgrade to BB- by S&P Global Ratings (S&P).

S&P has upgraded MedcoEnergi's credit rating to BB- from B+. This follows an upgrade by Fitch Ratings from B+ to BB- in May 2024. In their summary S&P highlighted the financial flexibility provided by MedcoEnergi's 20.92% equity stake in Amman Mineral Internasional (AMMN)1. The 20.92% equity stake in AMMN has a market value in excess of US$10 billion.

Hilmi Panigoro, President Director of MedcoEnergi, said, "This is a further recognition of MedcoEnergi's successfully executed business strategy of acquisition, organic growth and deleveraging. Our consistent operational performance has delivered a strong financial profile which has positioned us well to continue executing our strategy in the future."

1Amman Mineral Internasional is listed on the Indonesia Stock Exchange (IDX: AMMN)