Wijaya Karya’s Debt Burden After Whoosh
Wijaya Karya struggles to manage its finances amid a tough climate. The company is burdened by lingering project costs, including the Whoosh high-speed rail.
Caesar Akbar
March 17, 2025
WITHIN a month, the credit rating agency Pemeringkat Efek Indonesia (Pefindo) downgraded the rating of Wijaya Karya (WIKA) twice. On Wednesday, February 19, 2025, Pefindo lowered the rating of the Indonesia Stock Exchange-listed company from idCCC with a CreditWatch with Negative Implications to idSD. Nine days earlier, WIKA’s rating had already been downgraded from idBB- with a CreditWatch with Negative Implications.
At the same time
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