PEFINDO

What PEFINDO does

PEFINDO (PT Pemeringkat Efek Indonesia), founded in 1993 and headquartered in Jakarta's Sudirman Central Business District, is Indonesia's sole domestic credit rating agency. Operating as a recognized Self-Regulatory Organization under the Financial Services Authority (OJK), the company provides credit risk assessments for corporations, financial institutions, and government entities across bonds, sukuk, and other debt instruments in the Indonesian capital market. Its client base spans banking, telecommunications, energy, healthcare, infrastructure, real estate, and conglomerate sectors, with named engagements covering issuers such as Pelindo, Pegadaian, MNC Kapital Indonesia, Adira Dinamika Multi Finance, Indah Kiat Pulp & Paper, and Maruwai Coal.

PEFINDO's product portfolio centers on credit rating services built around proprietary alphanumeric rating methodologies (idAAA through lower tiers). This core is complemented by market indices (Composite IDX, Prime Bank Index, i-Grade Index), economic research publications (Weekly Economic Updates, Industry Sector Reports, Indonesian Rating House reports, Default Studies), and — since February 2025 — Green Bond External Review Provider services for sustainable finance instruments. A wholly-owned credit bureau subsidiary, PEFINDO Biro Kredit, operates separately under the idscore.id brand. The company holds ISO 9001, ISO 27001, and ISO 37001 certifications, and has pursued international knowledge partnerships with S&P Global Ratings, CCXI, and China Lianhe Credit Rating. In April 2026, PT Yulie Sekuritas Indonesia Tbk joined PEFINDO's shareholder base.

Revenue is generated through a multi-stream model: fees from credit rating assignments, subscription-based access to research publications via a member portal (billed monthly), licensing of index services, and professional service fees for green bond verification. Distribution occurs primarily through direct engagement with corporate and institutional clients for rating mandates, supplemented by self-serve digital subscription access for research products. The business model is a hybrid of episodic professional-services revenue (rating mandates) and recurring subscription revenue (publications and index licensing), anchored by PEFINDO's structural regulatory position in the Indonesian market.

Name

PEFINDO

Legal name

PT Pemeringkat Efek Indonesia

Website

https://pefindo.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

101–250 employees

Short description

PEFINDO (PT Pemeringkat Efek Indonesia) is Indonesia's sole domestic credit rating agency, providing credit risk assessments, market indices, economic research, and green bond verification to corporations, financial institutions, and government entities under OJK oversight.

Ownership category

akta.pro rank

Product category

Credit Rating Services

NAICS

Credit Intermediation and Related Activities (522)

SIC

Miscellaneous Business Credit Institution (6159), Services-Consumer Credit Reporting, Collection Agencies (7320)

akta.pro primary industry

Leveraged Loans & CLOs (FSAAAHAF)

akta.pro secondary industries

Government Bonds & Agencies (Sovereigns, Supras, Munis) (FSAAAHAA), Sukuk Origination & Structuring (Bank-led) (FSABAGAL)

Keywords

• Credit rating services
• Corporate credit assessments
• Bond and sukuk ratings
• Market index services
• Economic research publications

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Credit Rating Services: PEFINDO generates revenue through providing credit ratings to corporations, financial institutions, and government entities. Ratings are conducted for bonds, sukuk, and other debt instruments issued in the Indonesian capital market.
2. Publication Subscriptions: The company offers subscription-based access to research publications including Weekly Economic Update, Industry Sector Reviews (ISR), Indonesia Rating Highlights (IRH), Newsletters, and Default Studies.
3. Index Services: PEFINDO provides index services including Composite IDX, Prime Bank Index, and i-Grade Index to market participants.
4. Green Bond Verification: As an official Green Bond External Review Provider, PEFINDO offers verification services for sustainable finance instruments.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

PEFINDO is Indonesia's domestic credit rating agency that issues credit assessments (e.g., idAAA through idBBB) for corporations, banks, and issuers of bonds and sukuk in the Indonesian capital market. It also maintains market indices such as the Composite IDX, Prime Bank Index, and i-Grade Index, publishes subscription-based economic research and sector reports, and provides external review and verification for green bond issuances.

Product overview

PEFINDO operates as a comprehensive credit rating agency offering a portfolio of interconnected services. The core offerings include credit ratings (assessing issuer and securities creditworthiness) and market indices (Prime Bank Index, i-Grade Index). These are complemented by economic research publications including Weekly Economic Updates, Newsletters, and Default Studies. The Green Bond Verifier service provides external review for sustainable finance instruments. Additional analytical products include Industry Sector Reports (ISR) covering multifinance, construction, energy, and healthcare sectors, and Indonesian Rating House (IRH) reports. The company also offers a credit bureau subsidiary through PEFINDO Biro Kredit (idscore.id). The architecture follows a core-rating-plussupplementary-research model where ratings form the primary product, with research and sector reports adding analytical depth.

Differentiator

Problem solved

Functional benefit

Brands

• IDX-PEFINDO Prime Bank Index: Stock market index tracking prime bank performance
• PEFINDO i-Grade Index
• PEFINDO Biro Kredit

Products and services

• Rating Credit rating services that assess the creditworthiness of companies, securities, and financial instruments (bonds and sukuk) in the Indonesian market, assigning ratings ranging from idAAA down to lower tiers; used by issuers seeking capital market access and by investors for credit risk assessment.
• Index Stock market indices including the IDX-PEFINDO Prime Bank Index and i-Grade Index that track and benchmark Indonesian securities performance for institutional investors and market participants.
• Economic Research Economic analysis and research publications including Weekly Economic Updates, Newsletters, and in-depth reports on macroeconomic trends affecting Indonesia, distributed via the member portal and public website.
• Green Bond Verifier External review services for green bonds, verifying alignment with green bond principles and standards; officially recognized as a Green Bond External Review Provider since 10 February 2025.
• ISR (Industry Sector Report) In-depth industry sector reports covering multifinance, construction, energy, healthcare, and other sectors in Indonesia, providing sector-specific analysis and outlooks for institutional subscribers.
• IRH (Indonesian Rating House) Comprehensive rating house reports providing periodic analysis and commentary on the Indonesian credit rating landscape and market developments for subscribers.
• Default Study Annual research publications analyzing corporate default rates, patterns, and trends in the Indonesian market, available in yearly editions to subscribers.
• Rating Action & Reports Real-time credit rating actions, including new ratings, outlook changes, and full repayment announcements for rated entities; publicly disclosed to market participants.
• PEFINDO Biro Kredit Credit bureau subsidiary providing credit information and scoring services under the idscore.id brand.

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core.

• S&P Global RatingscoreStrategic or Co-development Partner · 20 May 2026PEFINDO and S&P Global Ratings co-hosted the Indonesia Credit Spotlight 2026 event addressing geopolitical headwinds and domestic resilience. The partnership represents ongoing collaboration between the two rating agencies for knowledge sharing and market dialogue.
• China Chengxin International Credit Rating Co., Ltd (CCXI)coreStrategic or Co-development Partner · 28 July 2025PEFINDO established a Memorandum of Cooperation with CCXI, a leading credit rating institution from China. The partnership aims to strengthen bilateral cooperation in credit rating services and market development.
• China Lianhe Credit Rating Co., LtdcoreStrategic or Co-development Partner · 28 July 2025PEFINDO established a Memorandum of Cooperation with China Lianhe Credit Rating, marking another strategic partnership with a leading Chinese rating institution to enhance cross-border cooperation.

Scale indicators2 records

Recent moves6 records

Expansion highlights6 records

Market position

Strengths5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/pefindo
• Instagraminstagram.com/pefindo
• Xx.com/PEFINDO
• Facebookfacebook.com/PEFINDO-193734957380832

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PEFINDO