Adil Al Hasan, Jakarta – State-owned postal company Pos Indonesia has spoken out regarding Fitch Ratings' decision to downgrade the rating of its Rp400 billion bond maturing on December 28, 2027.
In a statement released on Sunday, October 25, 2026, Fitch Ratings slashed Pos Indonesia's bond rating to default following the company's failure to service its bond coupon payment due on September 28, 2026.
Corporate Secretary of Pos Indonesia Iwan Gunawan stated that the company respects and takes note of Fitch Ratings' decision regarding the rating adjustment for the Pos Indonesia 2022 Bonds.
"The company views this development as part of the financial dynamics currently being addressed through comprehensive restructuring and corporate transformation measures," Iwan said in a written statement received by Tempo on Tuesday, October 27, 2026.
Iwan emphasized that the company's current main focus centers on accelerating financial restructuring and business transformation programs to restore liquidity, fortify financial structures, and establish healthier, more sustainable business fundamentals.
According to Iwan, the restructuring and transformation programs include realigning debt obligations, strengthening cash flow management, driving operational efficiency, optimizing assets and distribution networks, and building higher-productivity, competitive business lines. "Implementation is being carried out in phases through close coordination with shareholders, creditors, and key stakeholders," he said.
Addressing obligations to bondholders and sukuk holders, Iwan added that the company is fully committed to meeting all commitments in accordance with applicable mechanisms and regulations.
The company is currently preparing for General Meetings of Bondholders (RUPO) and Sukuk Ijarah Holders (RUPSI) scheduled for November 2026. This move is part of discussions surrounding proposed debt restructuring plans with bondholders and sukuk investors.
Iwan stated that the company believes the success of its financial restructuring depends directly on simultaneous business and operational transformations. Thus, recovery efforts aim not only to alleviate short-term liquidity pressures but also to enhance competitiveness and commercial viability.
Amid this process, Iwan assured that Pos Indonesia is dedicated to maintaining uninterrupted public services, including mail and parcel delivery, logistics, financial services, and government-mandated distribution programs. "The company is also continuously improving service quality while strengthening partnerships with clients and business partners," he said.
Furthermore, Iwan noted that Pos Indonesia is committed to executing the entire restructuring and transformation roadmap with complete transparency, accountability, and adherence to good corporate governance principles.
"Any material developments will be communicated through official company channels in line with applicable information disclosure regulations," he said.
Source: https://en.tempo.co/read/2122471/pos-indonesia-responds-to-fitch-ratings-default-downgrad