BEI, PEFINDO, IIF, and BRIDS Promote Credit Enhancement to Support Debt Issuance
Jakarta, 23 January 2026 — PT Pemeringkat Efek Indonesia (PEFINDO) projects that corporate debt issuance in Indonesia in 2026 will remain strong, ranging from Rp154 trillion to Rp196.9 trillion, with a midpoint estimate of around Rp175.8 trillion, driven mainly by the need to refinance maturing debt, optimize funding structures, and relatively more favorable interest rate conditions compared to previous years.
Investor sentiment, particularly among domestic institutional investors, is expected to remain positive toward corporate bonds as a stable investment instrument amid market volatility. As a result, the debt market in 2026 is still viewed as one of the main sources of corporate funding, although it may not reach the same issuance surge seen in 2025.
As an optimistic step in facing a conducive investment climate in 2026, the Indonesia Stock Exchange (BEI), PEFINDO, Indonesia Infrastructure Finance (IIF), and BRI Danareksa Sekuritas (BRIDS) held a seminar titled “Optimizing Debt Issuance with Credit Enhancement,” aimed at providing education and enriching business players’ insights regarding safer and more attractive debt issuance through IIF’s credit enhancement service (credit rating uplift), held at the Indonesia Stock Exchange Building, Jakarta.
IIF’s credit enhancement service has become one of the key factors in increasing the attractiveness and quality of corporate debt issuance in the capital market. Through the provision of credit guarantees, a stronger rating process, and support for prudent transaction structures, credit enhancement enables issuers to obtain better credit ratings and more competitive funding costs.
IIF President Director Rizki Pribadi Hasan stated that IIF’s credit enhancement service serves as a catalyst for the debt market. “This scheme not only strengthens investor confidence, but also expands the investor base and drives the success of bond issuance, while also supporting sustainable long-term financing for Indonesia’s infrastructure sector and strategic corporates,” said Rizki.
The Director of Company Valuation at the Indonesia Stock Exchange, Mr. I Gede Nyoman Yetna, conveyed that the Indonesia Stock Exchange actively organizes outreach and consultation programs for prospective securities issuers throughout Indonesia in collaboration with capital market stakeholders. “These outreach and consultation programs are intended to encourage the issuance of all types of securities, including debt securities and sukuk, which can be carried out under a credit enhancement scheme,” said Mr. Nyoman.
PEFINDO President Director Irmawati emphasized that PEFINDO’s rating methodology takes into account credit enhancement services or guarantees on debt instruments as a factor in improving the debt rating. “Debt securities issued by a corporation can receive the same rating as IIF if they obtain a full guarantee through IIF’s credit enhancement,” said Irmawati.
In line with IIF, BEI, and PEFINDO, BRIDS—one of the underwriters in Indonesia—also expressed optimism regarding IIF’s credit enhancement service and its impact on the investment climate in the debt market. “IIF’s credit enhancement support provides significant added value in the corporate debt issuance process. With a strong guarantee structure and a better credit rating, bond issuance becomes more credible in the eyes of investors, while also enabling more efficient funding cost determination,” said BRIDS Acting President Director, Fifi Virgantria.
BEI, PEFINDO, IIF, and BRIDS are committed to driving the growth of the capital market industry, particularly the debt market, by providing more comprehensive understanding for business players regarding the use of credit enhancement services. Credit enhancement is not new, but not all market participants fully understand its function and mechanism clearly. In essence, credit enhancement from a strong and credible institution such as IIF can support higher-quality, sustainable debt issuance, in line with efforts to deepen Indonesia’s capital market.