Fastfood Indonesia Tbk. Released : July 10, 2013 PEFINDO affirmed “idAA” ratings for Fast Food Indonesia and its Bond PEFINDO affirmed its “idAA” ratings for PT Fast Food Indonesia Tbk. (FAST or the Company) and the Company’s outstanding Bond I/2011 amounting to IDR200 billion. The outlook for FAST’s corporate rating is “stable”. The ratings reflect FAST’s strong presence in the domestic chicken based quick-service restaurant segment, its geographically well-diversified store location, and its very conservative financial leverage level and superior cash flow protection. However, the ratings are constrained by the tight competition in the restaurant industry. FAST has been the only franchise holder of Kentucky Fried Chicken (KFC) brand in Indonesia for more than 30 years. KFC brand belongs to Yum! Restaurant International (YRI), a subsidiary of Yum! Brands Inc., listed on the New York Stock Exchange. Yum! Brands Inc. is regarded as one of the largest fast food chains in the world, which also owns the brands of Pizza Hut and Taco Bell. As of March 31, 2013, FAST’s major shareholders were PT Gelael Pratama with 43.8% ownership and PT Megah Eraraharja (Salim Group, entered in 1990) with 35.8%. Rating Period: July 8, 2013 – July 1, 2014 Contact Analyst: Mega Dwitya Nugroho & Yogie Perdana
Posted on: Sun, 27 Oct 2013 14:02:16 +0000
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