Since its establishment in 1994 PEFINDO has provided independent, objective and credible credit rating products to cater to the needs of the capital market. In conducting its rating process all PEFINDO employees shall comply with this Code of Conduct (“the Code”).

This Code has been structured to closely track and primarily adhere to the following guidelines:

1. Code of Conduct Fundamentals for Credit Rating Agencies (“IOSCO Code”) published by International Organization of Securities Commissions (“IOSCO”). IOSCO consists of securities regulator from more than 100 countries.
2. Code of Ethics and Best Practices Framework adopted by Association of Credit Rating Agencies in Asia (“ACRAA”). ACRAA is an association formed by Asian credit rating agencies, and assisted by Asian Development Bank (“ADB”).

In the interest of transparency, PEFINDO has posted this Code on its website at www.pefindo.com. In making this Code publicly available PEFINDO does not assume any responsibility or liability to any third party arising from or relating to this Code or PEFINDO’s adherence to this Code thereof. This Code is not part of any contract with any third party, and no third party shall have any right to enforce any of its provisions.

PEFINDO using its own discretion may revise this Code at any time to reflect changes in PEFINDO’s ratings policies and procedures or to address any changes in market,legal or regulatory circumstances.

For more details on PEFINDO code of conduct please see this Code of Conduct in Bahasa.