Pos Indonesia Misses Sukuk Payment, Rating Near Default

PT Pos Indonesia (Persero) failed to meet its scheduled payment of approximately Rp24.12 billion on the sustainable sukuk Ijarah due on 7 July 2026. The company cited insufficient cash reserves and has asked the Indonesian Central Securities Depository (KSEI) for a deferral of the payment.

Fitch Ratings placed Pos Indonesia in a ‘C’ rating, indicating a near‑default situation. The agency warned that any further missed payments could trigger a downgrade to ‘RD’ and be classified as a default event. The postal operator is undergoing a broad restructuring after the resignation of CEO Daud Joseph, with Danantara Indonesia’s due‑diligence uncovering financial irregularities that need to be addressed.

The missed payment underscores significant liquidity challenges for the state‑owned enterprise, raising concerns among bondholders and potentially affecting the broader Indonesian financial market.