Learn About Municipality RatingsMunicipality ratings provide an assessment of the financial management and fiscal capacity of cities, regencies, provincial governments, and other agencies in Indonesia, as well as of the creditworthiness of any debt securities issued by them.
PEFINDO’s rating is determined by three main factors: institutional framework, individual credit profile and financial management.
A Financial Management Assessment (FMA) is an in-depth look at a local or regional government’s financial management practices. The analysis will cover the budgeting process, financial planning and long-term investments, revenue and expenditure management, liquidity management, debt management, government-related entities management and external risk management.
A Fiscal Capacity Assessment is an in-depth analysis of the ability of a local or regional government to generate sufficient revenue from taxes and other revenues to finance public service responsibilities.
For more information on how we analyze, see our ratings methodology.