Perhitungan Tingkat Diskonto

31 Desember 2016 6.28%

WACC (Rupiah)

Beta Beta
Bloomberg Damodaran

Beta Unlevered = 0.507 0.917

Beta Re-Levered = 0.595 1.186

Beta = 0.595 1.186

KRF = 8.52% 8.52%
Market Risk = 2.08% 8.82%
RBDS = 2.54%

Ke = 9.76% 16.44%
CoD = 10.43% 10.43%
We = 81.29% 71.90%
Wd = 18.71% 28.10%

Tax Rate = 25.00% 25.00%

Discount rate = 9.40% 14.02%

6.28%

4.41%
 Jumlah Saham
Beta Adjusted
No Perusahaan Harga Saham Ditempatkan dan
Leverage
Disetor Penuh

1 Astra International Tbk 1.2430 8,275 40,483,553,140

2 Astra Autoparts Tbk 0.7870 2,050 4,819,733,000
3 Garuda Metalindo Tbk 0.6280 805 2,343,750,000
4 Indo Kordsa Tbk 0.7500 810 656,249,710
5 Gajah Tunggal Tbk 1.0800 1,070 3,484,800,000
6 Indomobil Sukses Internasional Tbk 0.7350 170 701,043,478
7 Indospring Tbk 0.7500 980 5,758,675,440
8 Multi Prima Sejahtera Tbk 0.7070 5,400 21,250,000
9 Multistrada Arah Sarana Tbk 0.7740 270 9,182,946,945
10 Prima Alloy Steel Universal Tbk 0.7420 170 701,043,478
11 Selamat Sempurna Tbk 0.6230 980 5,758,675,440

Jumlah Saham
Beta Adjusted
No Perusahaan Harga Saham Ditempatkan dan
Leverage
Disetor Penuh

1 Astra International Tbk 1.243 8,275 40,483,553,140

2 Astra Autoparts Tbk 0.787 2,050 4,819,733,000
3 Garuda Metalindo Tbk 0.628 805 2,343,750,000
4 Indo Kordsa Tbk 0.486 6,675 450,000,000
5 Goodyear Indonesia Tbk 0.594 1,920 350,022,000
6 Gajah Tunggal Tbk 1.080 1,070 3,484,800,000
7 Indomobil Sukses Internasional Tbk 0.735 1,310 2,765,278,412
8 Indospring Tbk 0.750 810 656,249,710
9 Multi Prima Sejahtera Tbk 0.707 5,400 21,250,000
10 Multistrada Arah Sarana Tbk 0.774 270 9,182,946,945
11 Nipress Tbk 0.616 354 4,871,214,021
12 Prima Alloy Steel Universal Tbk 0.742 170 701,043,478
13 Selamat Sempurna Tbk 0.623 980 5,758,675,440

close jumlah lembar saham

KURS TENGAH PER 31 DESEMBER 2016

USD 13,436
Jual 13,503
Beli 13,369
Market Capitalization Utang W Debt W Equity Tarif Pajak

335,001,402,233,500 70,910,000,000,000 17.47% 82.53% 0.00%

9,880,452,650,000 1,004,902,000,000 9.23% 90.77% 0.00%
1,886,718,750,000 5,575,191,423 0.29% 99.71% 0.00%
531,562,265,100 97,067,629,584 15.44% 84.56% 0.00%
3,728,736,000,000 7,443,586,000,000 66.63% 33.37% 0.00%
119,177,391,260 710,859,356,856 85.64% 14.36% 0.00%
5,643,501,931,200 157,155,000,000 2.71% 97.29% 0.00%
114,750,000,000 156,014,394,595 57.62% 42.38% 0.00%
2,479,395,675,150 2,710,799,285,992 52.23% 47.77% 0.00%
119,177,391,260 710,859,356,856 85.64% 14.36% 0.00%
5,643,501,931,200 157,155,000,000 2.71% 97.29% 0.00%

365,148,376,218,670 84,063,973,215,306 18.71% 81.29%

DER 23.02%

Market Capitalization Utang W Debt W Equity Tarif Pajak

335,001,402,233,500 70,910,000,000,000 17.47% 82.53% 0.00%

9,880,452,650,000 1,004,902,000,000 9.23% 90.77% 0.00%
1,886,718,750,000 5,575,191,423 0.29% 99.71% 0.00%
3,003,750,000,000 97,067,629,584 3.13% 96.87% 0.00%
672,042,240,000 7,924,891,043,250 92.18% 7.82% 0.00%
3,728,736,000,000 7,443,586,000,000 66.63% 33.37% 0.00%
3,622,514,719,720 16,538,330,561,862 82.03% 17.97% 0.00%
531,562,265,100 274,118,343,689 34.02% 65.98% 0.00%
114,750,000,000 156,014,394,595 57.62% 42.38% 0.00%
2,479,395,675,150 2,710,799,285,992 52.23% 47.77% 0.00%
1,724,409,763,434 1,855,305,338,268 51.83% 48.17% 0.00%
119,177,391,260 710,859,356,856 85.64% 14.36% 0.00%
5,643,501,931,200 157,155,000,000 2.71% 97.29% 0.00%

368,408,413,619,364 109,788,604,145,519 22.96% 77.04%

DER 29.80%

Utang berbeban bunga :

- utang bank
- utang sewa
Beta Unleveraged

1.0259
0.7143
0.6261
0.6342
0.3604
0.1055
0.7297
0.2996
0.3697
0.1065
0.6061

0.5071

Beta Unleveraged

1.0259 ASII
0.7143 AUTO
0.6261 BOLT
0.4708 BRAM
0.0464 GDYR
0.3604 GJTL
0.1321 IMAS
0.4948 INDS
0.2996 LPIN
0.3697 MASA
0.2967 NIPS
0.1065 PRAS
0.6061 SMSM

0.4269
 Beta Adjusted
No Perusahaan Harga Saham
Leverage

1 Agung Podomoro Land Tbk 1.0310 242

2 Alam Sutera Realty Tbk 1.1350 386
3 Bhuwanatala Indah Permai Tbk 0.7390 83
4 Bukit Darmo Property Tbk 0.8930 67
5 Bumi Serpong Damai Tbk 1.5210 1,830
6 Cowell Development Tbk 0.8250 590
7 Ciputra Development Tbk 1.2820 1,389
8 Ciputra Property Tbk 1.2340 501
9 Ciputra Surya Tbk 1.1620 2,100
10 Duta Anggada Realty Tbk 0.7790 400
11 Intiland Development Tbk 0.8000 540
12 Duta Pertiwi Tbk 0.2850 6,200
13 Megapolitan Developments Tbk 0.4560 158
14 Gading Development Tbk 0.4110 50
15 Perdana Gapuraprima Tbk 0.5830 210
16 Jaya Real Property Tbk 0.3230 830
17 Metropolitan Land Tbk 0.7370 334
18 Indonesia Prima Property Tbk 0.2050 300
19 Plaza Indonesia Realty Tbk 1.1590 3,840
20 Roda Vivatex Tbk 0.0930 8,000

Beta Adjusted
No Perusahaan Harga Saham
Leverage

1 Agung Podomoro Land Tbk APLN 1.0310 242

2 Alam Sutera Realty Tbk ASRI 1.1350 386
3 Bekasi Asri Pemula Tbk BAPA 0.5570 50
4 Bumi Citra Permai Tbk BCIP 0.8450 895
5 Bekasi Fajar Industrial Estate Tbk BEST 0.8930 264
6 Binakarya Jaya Abadi Tbk BIKA 0.4580 1,035
7 Bhuwanatala Indah Permai Tbk BIPP 0.7390 83
8 Bukit Darmo Property Tbk BKDP 0.8930 67
9 Sentul City Tbk BKSL 1.0890 85
10 Bumi Serpong Damai Tbk BSDE 1.5210 1,830
11 Cowell Development Tbk COWL 0.8250 590
12 Ciputra Development Tbk CTRA 1.2820 1,389
13 Ciputra Property Tbk CTRP 1.2340 501
14 Ciputra Surya Tbk CTRS 1.1620 2,100
15 Duta Anggada Realty Tbk DART 0.7790 400
16 Intiland Development Tbk DILD 0.8000 540
17 Puradelta Lestari Tbk DMAS 1.8670 210
18 Duta Pertiwi Tbk DUTI 0.2850 6,200
19 Megapolitan Developments Tbk EMDE 0.4560 158
20 Fortune Mate Indonesia Tbk FMII 0.4390 460
21 Gading Development Tbk GAMA 0.4110 50
22 Gowa Makassar Tourism Development GMTD 0.3750 6,400
23 Perdana Gapuraprima Tbk GPRA 0.5830 210
24 Jaya Real Property Tbk JRPT 0.3230 830
25 Kawasan Industri Jababeka Tbk KIJA 1.2610 252
26 MNC Land Tbk KPIG 0.6120 1,230
27 Lamicitra Nusantara Tbk LAMI 0.6090 308
28 Eureka Prima Jakarta Tbk LCGP 0.5110 440
29 Lippo Cikarang Tbk LPCK 1.3330 7,225
30 Modernland Realty Tbk MDLN 1.0830 352
31 Metropolitan Kentjana Tbk MKPI 0.3570 18,250
32 Mega Manunggal Property Tbk MMLP 0.2200 720
33 Metropolitan Land Tbk MTLA 0.7370 334
34 Metro Realty Tbk MTSM (0.0250) 340
35 Nirvana Development Tbk NIRO 0.7610 100
36 Indonesia Prima Property Tbk OMRE 0.2050 300
37 Plaza Indonesia Realty Tbk PLIN 1.1590 3,840
38 PP Properti Tbk PPRO 1.1460 376
39 Pakuwon Jati Tbk PWON 1.0330 550
40 Ristia Bintang Mahkotasejati Tbk RBMS 0.6520 81
41 Roda Vivatex Tbk RDTX 0.0930 8,000
42 Suryamas Dutamakmur Tbk SMDM 0.4830 88
43 Summarecon Agung Tbk SMRA 1.2030 1,600
44 Surya Semesta Internusa Tbk SSIA 1.0000 650
45 Sitara Propertindo Tbk TARA 0.3960 675

KURS PER 31 MEI 2016

USD 13,615
 Jumlah Saham
Ditempatkan dan Market Capitalization Utang W Debt W Equity
Disetor Penuh

20,500,900,000 4,961,217,800,000 6,315,856,976,000 56.01% 43.99%

19,649,411,888 7,584,672,988,768 7,367,760,531,000 49.27% 50.73%
4,669,648,436 387,580,820,188 172,135,816,697 30.75% 69.25%
6,830,992,252 457,676,480,884 147,384,745,020 24.36% 75.64%
19,246,696,192 35,221,454,031,360 7,924,891,043,250 18.37% 81.63%
4,871,214,021 2,874,016,272,390 1,855,305,338,268 39.23% 60.77%
15,330,659,837 21,287,694,329,863 5,277,283,263,988 19.87% 80.13%
6,056,410,788 3,033,716,727,817 3,173,761,213,335 51.13% 48.87%
2,004,563,747 4,209,563,823,063 684,064,450,000 13.98% 86.02%
3,141,390,962 1,256,556,384,800 1,964,923,966,000 60.99% 39.01%
10,267,099,185 5,544,233,559,900 3,199,507,093,316 36.59% 63.41%
1,850,000,000 11,470,000,000,000 368,495,711,529 3.11% 96.89%
3,350,000,000 529,300,000,000 246,217,852,465 31.75% 68.25%
10,011,027,656
4,273,105,336 897,352,120,560 272,867,662,490 23.32% 76.68%
13,449,203,800 11,162,839,154,000 27,563,406,000 0.25% 99.75%
7,655,126,330 2,556,812,194,220 992,052,709,000 27.95% 72.05%
1,745,000,000 523,500,000,000 1,670,596,667 0.32% 99.68%
3,550,000,000 13,632,000,000,000 1,232,622,753,000 8.29% 91.71%
267,800,000 2,142,400,000,000 - 0.00% 100.00%

124,771,368,887,813 34,908,508,152,025 21.86% 78.14%

DER 27.98%

Jumlah Saham
Ditempatkan dan Market Capitalization Utang W Debt W Equity
Disetor Penuh

20,500,900,000 4,961,217,800,000 6,315,856,976,000 56.01% 43.99%

19,649,411,888 7,584,672,988,768 7,367,760,531,000 49.27% 50.73%
661,784,520 33,089,226,000 37,614,045,602 53.20% 46.80%
1,429,915,525 1,279,774,394,875 114,304,393,476 8.20% 91.80%
9,647,311,150 2,546,890,143,600 1,423,171,516,938 35.85% 64.15%
592,280,000 613,009,800,000 1,006,055,759,905 62.14% 37.86%
4,669,648,436 387,580,820,188 172,135,816,697 30.75% 69.25%
6,830,992,252 457,676,480,884 147,384,745,020 24.36% 75.64%
34,536,595,510 2,935,610,618,350 1,638,725,163,575 35.82% 64.18%
19,246,696,192 35,221,454,031,360 7,924,891,043,250 18.37% 81.63%
4,871,214,021 2,874,016,272,390 1,855,305,338,268 39.23% 60.77%
15,330,659,837 21,287,694,329,863 5,277,283,263,988 19.87% 80.13%
6,056,410,788 3,033,716,727,817 3,173,761,213,335 51.13% 48.87%
2,004,563,747 4,209,563,823,063 684,064,450,000 13.98% 86.02%
3,141,390,962 1,256,556,384,800 1,964,923,966,000 60.99% 39.01%
10,267,099,185 5,544,233,559,900 3,199,507,093,316 36.59% 63.41%
48,198,111,100 10,121,603,331,000 - 0.00% 100.00%
 1,850,000,000 11,470,000,000,000 368,495,711,529 3.11% 96.89%
3,350,000,000 529,300,000,000 246,217,852,465 31.75% 68.25%
2,721,000,000 1,251,660,000,000 92,886,960,772 6.91% 93.09%
10,011,027,656 500,551,382,800 188,072,164,205 27.31% 72.69%
101,538,000 649,843,200,000 35,000,000,000 5.11% 94.89%
4,273,105,336 897,352,120,560 272,867,662,490 23.32% 76.68%
13,449,203,800 11,162,839,154,000 27,563,406,000 0.25% 99.75%
20,662,178,685 5,206,869,028,620 3,509,513,775,844 40.26% 59.74%
6,890,467,237 8,475,274,701,510 1,710,793,951,846 16.80% 83.20%
1,148,418,000 353,712,744,000 9,583,333,000 2.64% 97.36%
5,630,000,914 2,477,200,402,160 - 0.00% 100.00%
696,000,000 5,028,600,000,000 30,000,000,000 0.59% 99.41%
12,533,067,322 4,411,639,697,344 4,580,345,963,303 50.94% 49.06%
948,194,000 17,304,540,500,000 427,105,672,521 2.41% 97.59%
5,714,285,000 4,114,285,200,000 590,522,942,833 12.55% 87.45%
7,655,126,330 2,556,812,194,220 992,052,709,000 27.95% 72.05%
232,848,000 79,168,320,000 - 0.00% 100.00%
22,198,871,804 2,219,887,180,400 147,635,027,071 6.24% 93.76%
1,745,000,000 523,500,000,000 1,670,596,667 0.32% 99.68%
3,550,000,000 13,632,000,000,000 1,232,622,753,000 8.29% 91.71%
14,044,406,000 5,280,696,656,000 1,329,242,270,822 20.11% 79.89%
48,159,602,400 26,487,781,320,000 4,929,267,356,000 15.69% 84.31%
326,363,000 26,435,403,000 - 0.00% 100.00%
267,800,000 2,142,400,000,000 0.00% 100.00%
4,772,138,237 419,948,164,856 229,856,447,000 35.37% 64.63%
14,426,781,680 23,082,850,688,000 6,197,820,100,000 21.17% 78.83%
4,669,747,440 3,035,335,836,000 1,377,269,080,459 31.21% 68.79%
10,044,920,000 6,780,321,000,000 181,046,511,021 2.60% 97.40%

264,449,165,626,328 71,010,197,564,218 21.17% 78.83%

Tarif Pajak Beta Unleveraged

0.00% 0.4536
0.00% 0.5757
0.00% 0.5117
0.00% 0.6755
0.00% 1.2416
0.00% 0.5014
0.00% 1.0273
0.00% 0.6031
0.00% 0.9996
0.00% 0.3039
0.00% 0.5073
0.00% 0.2761
0.00% 0.3112

0.00% 0.4471
0.00% 0.3222
0.00% 0.5310
0.00% 0.2043
0.00% 1.0629
0.00% 0.0930

0.5664

Tarif Pajak Beta Unleveraged

0.00% 0.4536 APLN

0.00% 0.5757 ASRI pengembangan perumahan
0.00% 0.2607 BAPA real estat, perdagangan, pembangunan, percetakan, dll
0.00% 0.7757 BCIP
0.00% 0.5729 BEST pengembangan kawasan industri
0.00% 0.1734 BIKA jasa, pembangunan, pengangkutan darat, perbengkelan, percetakan, pe
0.00% 0.5117 BIPP pembangunan dan pengelolaan properti seperti apartemen, perhotelan,
0.00% 0.6755 BKDP kontraktor, pekerjaan bidang teknik, seperti pekerjaan sipil, arsitektur, de
0.00% 0.6989 BKSL bidang pembangunan, perdagangan, jasa
0.00% 1.2416 BSDE
0.00% 0.5014 COWL
0.00% 1.0273 CTRA
0.00% 0.6031 CTRP
0.00% 0.9996 CTRS
0.00% 0.3039 DART
0.00% 0.5073 DILD
0.00% 1.8670 DMAS
0.00% 0.2761 DUTI
0.00% 0.3112 EMDE
0.00% 0.4087 FMII
0.00% 0.2988 GAMA
0.00% 0.3558 GMTD
0.00% 0.4471 GPRA
0.00% 0.3222 JRPT
0.00% 0.7533 KIJA
0.00% 0.5092 KPIG
0.00% 0.5929 LAMI
0.00% 0.5110 LCGP
0.00% 1.3251 LPCK
0.00% 0.5313 MDLN
0.00% 0.3484 MKPI
0.00% 0.1924 MMLP
0.00% 0.5310 MTLA
0.00% (0.0250) MTSM
0.00% 0.7135 NIRO
0.00% 0.2043 OMRE
0.00% 1.0629 PLIN
0.00% 0.9155 PPRO
0.00% 0.8709 PWON
0.00% 0.6520 RBMS
0.00% 0.0930 RDTX
0.00% 0.3121 SMDM
0.00% 0.9484 SMRA
0.00% 0.6879 SSIA
0.00% 0.3857 TARA

0.5841
rcetakan, dll

perbengkelan, percetakan, perdagangan, perindustrian, pertambangan, pertanian

perti apartemen, perhotelan, perkantoran, pertokoan dan perumahan, perdagangan dan pelayanan jasa
pekerjaan sipil, arsitektur, dekorasi, elektrikal dan mekanikal, reparasi dan perawatan, bidang real estate dengan mengerjakan pembebasa
an mengerjakan pembebasan tanah untuk pembangunan perumahan-perumahan dan bangunan lainya, dll
Date updated: 5-Jan-17
Created by: Aswath Damodaran, adamodar@stern.nyu.edu
What is this data? Beta, Unlevered beta and other risk measures Emerging Markets
Home Page: http://www.damodaran.com
Data website: http://www.stern.nyu.edu/~adamodar/New_Home_Page/data.html
Companies in each i http://www.stern.nyu.edu/~adamodar/pc/datasets/indname.xls
Variable definitions: http://www.stern.nyu.edu/~adamodar/New_Home_Page/datafile/variable.htm
Industry Name Number of firms Beta D/E Ratio Tax rate Unlevered beta Cash/Firm value
Advertising 70 1.31 12.71% 14.49% 1.18 8.24%
Aerospace/Defense 61 1.29 25.93% 11.81% 1.05 8.12%
Air Transport 81 0.91 116.07% 16.33% 0.46 8.13%
Apparel 899 0.79 26.44% 14.69% 0.65 8.42%
Auto & Truck 78 1.23 39.07% 13.44% 0.92 14.05%
Auto Parts 395 1.23 18.50% 18.33% 1.07 9.61%
Bank (Money Center) 465 0.64 140.66% 20.31% 0.30 23.21%
Banks (Regional) 87 0.61 201.39% 20.14% 0.23 23.88%
Beverage (Alcoholic) 121 0.75 3.62% 21.82% 0.73 8.11%
Beverage (Soft) 36 0.54 19.22% 13.22% 0.47 4.99%
Broadcasting 60 1.08 17.40% 15.83% 0.95 6.18%
Brokerage & Investment Ba 392 0.87 115.10% 13.92% 0.44 11.45%
Building Materials 225 0.92 26.12% 16.59% 0.75 7.43%
Business & Consumer Servi 194 1.00 16.36% 15.69% 0.88 7.79%
Cable TV 30 1.14 7.77% 12.03% 1.07 5.76%
Chemical (Basic) 585 1.03 27.97% 16.75% 0.84 8.27%
Chemical (Diversified) 41 1.44 30.81% 17.22% 1.15 9.18%
Chemical (Specialty) 440 1.11 30.26% 16.98% 0.88 7.09%
Coal & Related Energy 108 1.37 50.38% 10.64% 0.94 14.17%
Computer Services 411 1.03 10.11% 13.23% 0.95 6.44%
Computers/Peripherals 203 1.20 19.82% 14.64% 1.02 17.03%
Construction Supplies 529 1.01 47.61% 14.73% 0.72 9.70%
Diversified 238 0.78 109.21% 13.31% 0.40 11.51%
Industry Name Number of firms Beta D/E Ratio Tax rate Unlevered beta Cash/Firm value
Drugs (Biotechnology) 156 1.15 4.27% 6.38% 1.10 4.80%
Drugs (Pharmaceutical) 576 1.01 11.71% 16.11% 0.92 6.99%
Education 85 0.89 21.68% 11.68% 0.75 7.58%
Electrical Equipment 529 1.20 32.96% 14.59% 0.93 9.86%
Electronics (Consumer & Off 92 1.19 56.87% 12.25% 0.79 22.45%
Electronics (General) 735 1.27 17.41% 13.23% 1.10 14.19%
Engineering/Construction 694 1.15 84.42% 14.92% 0.67 22.06%
Entertainment 164 1.12 14.82% 11.10% 0.99 7.04%
Environmental & Waste Ser 98 1.47 17.99% 12.27% 1.27 7.54%
Farming/Agriculture 270 0.88 42.42% 13.42% 0.65 7.42%
Financial Svcs. (Non-bank 536 0.69 120.32% 16.55% 0.34 11.19%
Food Processing 854 0.76 27.59% 15.10% 0.62 6.72%
Food Wholesalers 59 0.58 66.37% 16.50% 0.37 9.57%
Furn/Home Furnishings 202 0.99 21.00% 18.29% 0.85 16.31%
Green & Renewable Energy 77 1.06 65.65% 10.74% 0.67 3.55%
Healthcare Products 164 1.05 6.71% 12.17% 0.99 6.56%
Healthcare Support Service 109 1.22 21.78% 18.14% 1.04 11.23%
Heathcare Information and 56 1.12 5.94% 6.85% 1.06 2.55%
Homebuilding 36 1.38 61.94% 12.08% 0.89 8.76%
Hospitals/Healthcare Facilit 90 0.66 13.07% 19.81% 0.60 3.29%
Hotel/Gaming 411 0.84 32.53% 13.03% 0.66 10.72%
Household Products 235 0.88 7.01% 15.50% 0.83 4.64%
Information Services 53 1.20 13.13% 15.77% 1.08 5.32%
Insurance (General) 154 0.57 35.16% 11.99% 0.43 14.40%
Insurance (Life) 63 0.77 53.53% 15.83% 0.53 15.67%
Insurance (Prop/Cas.) 141 0.45 21.76% 15.38% 0.38 13.25%
Investments & Asset Mana 333 0.75 247.47% 8.26% 0.23 6.55%
Machinery 674 1.16 15.11% 15.19% 1.03 7.52%
Metals & Mining 290 1.35 47.31% 11.98% 0.96 8.25%
Office Equipment & Service 67 0.74 18.23% 14.81% 0.64 9.54%
Industry Name Number of firms Beta D/E Ratio Tax rate Unlevered beta Cash/Firm value
Oil/Gas (Integrated) 23 1.20 60.76% 16.36% 0.79 8.57%
Oil/Gas (Production and Exp 135 1.97 42.58% 6.71% 1.41 5.40%
Oil/Gas Distribution 86 1.61 86.57% 12.97% 0.92 8.68%
Oilfield Svcs/Equip. 243 1.21 49.36% 12.14% 0.85 5.90%
Packaging & Container 279 0.74 23.14% 17.84% 0.62 6.67%
Paper/Forest Products 191 0.82 63.10% 14.49% 0.53 7.22%
Power 370 0.81 91.58% 17.49% 0.46 6.29%
Precious Metals 100 1.33 35.50% 11.43% 1.01 6.50%
Publishing & Newspapers 162 0.83 8.44% 13.09% 0.77 11.42%
R.E.I.T. 81 0.68 50.33% 4.34% 0.46 2.09%
Real Estate (Development) 638 1.09 114.64% 19.64% 0.57 19.57%
Real Estate (General/Diversi 280 1.05 64.61% 14.57% 0.67 11.33%
Real Estate (Operations & S 279 0.88 87.44% 14.16% 0.50 7.76%
Recreation 121 0.98 20.94% 15.83% 0.84 11.01%
Reinsurance 30 0.94 13.93% 13.24% 0.84 13.88%
Restaurant/Dining 98 1.13 25.57% 17.54% 0.93 7.05%
Retail (Automotive) 78 0.98 83.07% 16.84% 0.58 15.36%
Retail (Building Supply) 13 1.18 19.47% 10.62% 1.00 5.39%
Retail (Distributors) 523 0.88 63.03% 14.08% 0.57 11.79%
Retail (General) 137 1.20 51.76% 22.16% 0.86 7.65%
Retail (Grocery and Food) 60 0.89 27.72% 16.69% 0.72 3.95%
Retail (Online) 28 1.53 23.29% 16.32% 1.28 8.35%
Retail (Special Lines) 158 1.04 33.02% 15.68% 0.81 9.20%
Rubber& Tires 69 0.96 32.91% 17.82% 0.76 9.68%
Semiconductor 389 1.37 16.74% 10.31% 1.19 10.51%
Semiconductor Equip 151 1.23 29.49% 12.67% 0.97 9.81%
Shipbuilding & Marine 219 1.03 80.69% 11.30% 0.60 12.31%
Shoe 63 0.90 17.38% 17.64% 0.79 9.53%
Software (Entertainment) 54 1.59 5.66% 8.93% 1.51 10.26%
Software (Internet) 150 1.32 6.38% 11.01% 1.25 5.07%
Industry Name Number of firms Beta D/E Ratio Tax rate Unlevered beta Cash/Firm value
Software (System & Applica 309 1.29 3.13% 10.80% 1.25 7.01%
Steel 518 1.11 85.36% 11.94% 0.63 7.64%
Telecom (Wireless) 62 1.02 40.58% 15.47% 0.76 3.41%
Telecom. Equipment 268 1.26 11.58% 10.89% 1.14 10.25%
Telecom. Services 116 0.86 35.14% 14.76% 0.66 5.35%
Tobacco 29 0.34 1.41% 21.15% 0.33 2.10%
Transportation 141 1.14 65.66% 18.74% 0.74 10.04%
Transportation (Railroads) 11 1.73 22.25% 15.87% 1.45 5.31%
Trucking 95 0.88 44.54% 14.41% 0.64 10.02%
Utility (General) 13 0.81 215.44% 16.52% 0.29 8.72%
Utility (Water) 56 1.29 44.17% 17.37% 0.94 8.61%
Total Market 20578 1.01 62.14% 14.65% 0.66 13.00%
Total Market (without fi 18286 1.06 44.03% 14.66% 0.77 9.69%
Unlevered beta corrected for cash HiLo Risk Standard
Standard deviation of equity deviation in operating income (last 10 years)
1.29 0.3927 42.25% 54.34%
1.14 0.3196 34.07% 31.87%
0.50 0.2848 26.98% 60.65%
0.71 0.3523 36.63% 36.75%
1.07 0.3235 29.61% 46.63%
1.18 0.3254 32.27% 42.28%
0.40 0.2106 18.41% 14.62%
0.31 0.2345 21.65% 154.02%
0.79 0.2630 27.94% 288.13%
0.49 0.2230 21.27% 39.04%
1.01 0.2901 30.37% 36.90%
0.49 0.3392 32.45% 165.56%
0.81 0.3315 33.18% 30.72%
0.95 0.3557 36.76% 46.00%
1.13 0.3187 30.56% 56.96%
0.92 0.3373 32.85% 27.55%
1.27 0.3553 29.25% 22.39%
0.95 0.3401 34.17% 34.23%
1.10 0.3981 41.74% 48.72%
1.02 0.3481 35.86% 32.99%
1.23 0.3181 30.44% 45.58%
0.80 0.3162 32.18% 26.64%
0.45 0.2486 22.61% 46.14%
Unlevered beta corrected for cash HiLo Risk Standard
Standard deviation of equity deviation in operating income (last 10 years)
1.16 0.3678 38.79% 50.85%
0.99 0.3246 34.80% 44.74%
0.81 0.3611 31.92% 48.31%
1.04 0.3369 34.72% 9.77%
1.02 0.3377 36.37% 68.38%
1.28 0.3302 33.56% 34.91%
0.86 0.3397 32.46% 40.11%
1.07 0.3945 44.11% 75.03%
1.38 0.3589 38.18% 72.79%
0.70 0.3126 30.89% 30.44%
0.39 0.3096 29.93% 29.96%
0.66 0.3248 30.95% 36.72%
0.41 0.3584 30.42% 31.94%
1.01 0.3320 33.13% 53.17%
0.69 0.3022 31.73% 44.08%
1.06 0.3521 37.04% 38.04%
1.17 0.3139 36.92% 61.29%
1.08 0.3944 42.85% 81.77%
0.98 0.3179 33.21% 73.26%
0.62 0.3180 23.02% 43.00%
0.74 0.2720 29.73% 41.54%
0.87 0.3359 35.46% 33.00%
1.14 0.3717 36.59% 31.14%
0.51 0.2269 23.37% 44.71%
0.63 0.2443 21.72% 45.41%
0.44 0.2260 24.20% 48.97%
0.24 0.3239 32.67% 35.45%
1.11 0.3235 34.27% 32.55%
1.04 0.3860 40.15% 34.57%
0.71 0.2971 34.27% 20.48%
Unlevered beta corrected for cash HiLo Risk Standard
Standard deviation of equity deviation in operating income (last 10 years)
0.87 0.2489 23.33% 29.37%
1.49 0.4489 45.73% 40.61%
1.01 0.3036 33.17% 34.66%
0.90 0.3601 34.29% 25.64%
0.67 0.3342 34.63% 24.56%
0.57 0.3475 32.30% 21.94%
0.49 0.2750 26.84% 36.96%
1.08 0.5074 46.10% 41.12%
0.87 0.3153 36.48% 27.03%
0.47 0.1829 13.92% 43.78%
0.70 0.2821 29.83% 53.18%
0.76 0.2553 26.88% 32.23%
0.54 0.2802 28.74% 42.81%
0.94 0.2984 33.34% 57.33%
0.97 0.2386 23.48% 49.27%
1.00 0.3308 30.73% 37.76%
0.68 0.2850 31.51% 51.60%
1.06 0.3109 33.10% 79.34%
0.65 0.3580 36.76% 29.75%
0.93 0.2665 28.73% 28.08%
0.75 0.2886 27.90% 40.60%
1.39 0.3844 32.35% 27.53%
0.90 0.3110 31.23% 37.32%
0.84 0.3043 25.86% 57.62%
1.33 0.3220 31.71% 55.44%
1.08 0.3439 31.99% 65.56%
0.68 0.2897 30.50% 51.69%
0.87 0.3285 34.54% 29.67%
1.69 0.3735 42.42% 42.78%
1.32 0.3941 41.51% 65.57%
Unlevered beta corrected for cash HiLo Risk Standard
Standard deviation of equity deviation in operating income (last 10 years)
1.35 0.3816 41.88% 40.03%
0.68 0.3752 34.36% 47.34%
0.79 0.2581 24.65% 16.88%
1.27 0.3471 37.24% 33.52%
0.70 0.2891 26.37% 3.25%
0.34 0.2452 23.06% 21.35%
0.82 0.2990 30.90% 33.00%
1.53 0.3106 31.14% 32.42%
0.71 0.2809 29.28% 26.21%
0.32 0.2655 21.88% 25.27%
1.03 0.2412 32.64% 28.30%
0.76 0.3232 32.64% 43.55%
0.85 0.3305 33.53% 23.15%
(last 10 years)
(last 10 years)
(last 10 years)
(last 10 years)
14 tahun 8.2902%
30 tahun 8.5214%
EstimatingCountryRiskPremiums

Enter the current risk premium for a mature equity market

Do you want to adjust the country default spread for the additional volatility of the equity market to get to a country premium?
If yes, enter the multiplier to use on the default spread (See worksheet for volatility numbers for selected emerging markets)

Country Africa Moody'srating RatingbasedDefaultSpread

AbuDhabi Middle East Aa2 0.57%
Albania Eastern Europe & Russia B1 5.20%
Andorra(Principalityof) Western Europe Baa3 2.54%
Angola Africa B1 5.20%
Argentina Central and South America B3 7.51%
Armenia Eastern Europe & Russia B1 5.20%
Aruba Caribbean Baa1 1.84%
Australia Australia & New Zealand Aaa 0.00%
Austria Western Europe Aa1 0.46%
Azerbaijan Eastern Europe & Russia Ba1 2.89%
Bahamas Caribbean Baa3 2.54%
Bahrain Middle East Ba2 3.47%
Bangladesh Asia Ba3 4.16%
Barbados Caribbean Caa1 8.66%
Belarus Eastern Europe & Russia Caa1 8.66%
Belgium Western Europe Aa3 0.70%
Belize Central and South America Caa2 10.40%
Bermuda Caribbean A2 0.98%
Bolivia Central and South America Ba3 4.16%
BosniaandHerzegovina Eastern Europe & Russia B3 7.51%
Botswana Africa A2 0.98%
Brazil Central and South America Ba2 3.47%
Bulgaria Eastern Europe & Russia Baa2 2.20%
BurkinaFaso Africa B3 7.51%
Cambodia Asia B2 6.36%
Cameroon Africa B2 6.36%
Canada North America Aaa 0.00%
CaymanIslands Caribbean Aa3 0.70%
CapeVerde Africa B2 6.36%
Chile Central and South America Aa3 0.70%
China Asia Aa3 0.70%
Colombia Central and South America Baa2 2.20%
Congo(DemocraticRepublicof) Africa B3 7.51%
Congo(Republicof) Africa B3 7.51%
CookIslands Australia & New Zealand Caa1 8.66%
CostaRica Central and South America Ba1 2.89%
Cted'Ivoire Africa Ba3 4.16%
Croatia Eastern Europe & Russia Ba2 3.47%
Cuba Caribbean Caa2 10.40%
Curacao Caribbean Caa1 8.66%
Cyprus Western Europe B1 5.20%
CzechRepublic Eastern Europe & Russia A1 0.81%
Denmark Western Europe Aaa 0.00%
DominicanRepublic Caribbean B1 5.20%
Ecuador Central and South America B3 7.51%
Egypt Africa B3 7.51%
ElSalvador Central and South America B3 7.51%
Estonia Eastern Europe & Russia A1 0.81%
Ethiopia Africa B1 5.20%
Fiji Asia B1 5.20%
Finland Western Europe Aa1 0.46%
France Western Europe Aa2 0.57%
Gabon Africa B1 5.20%
Georgia Eastern Europe & Russia Ba3 4.16%
Germany Western Europe Aaa 0.00%
Ghana Africa B3 7.51%
Greece Western Europe Caa3 11.55%
Guatemala Central and South America Ba1 2.89%
Guernsey(Statesof) Western Europe Aa1 0.46%
Honduras Central and South America B2 6.36%
HongKong Asia Aa1 0.46%
Hungary Eastern Europe & Russia Baa3 2.54%
Iceland Western Europe A3 1.39%
India Asia Baa3 2.54%
Indonesia Asia Baa3 2.54%
Iraq Middle East B3 7.51%
Ireland Western Europe A3 1.39%
IsleofMan Western Europe Aa1 0.46%
Israel Middle East A1 0.81%
Italy Western Europe Baa2 2.20%
Jamaica Caribbean B3 7.51%
Japan Asia A1 0.81%
Jersey(Statesof) Western Europe Caa1 8.66%
Jordan Middle East B1 5.20%
Kazakhstan Eastern Europe & Russia Baa3 2.54%
Kenya Africa B1 5.20%
Korea Asia Aa2 0.57%
Kuwait Middle East Aa2 0.57%
Kyrgyzstan Eastern Europe & Russia B2 6.36%
Latvia Eastern Europe & Russia A3 1.39%
Lebanon Middle East B2 6.36%
Liechtenstein Western Europe Aaa 0.00%
Lithuania Eastern Europe & Russia A3 1.39%
Luxembourg Western Europe Aaa 0.00%
Macao Asia Aa3 0.70%
Macedonia Eastern Europe & Russia Ba3 4.16%
Malaysia Asia A3 1.39%
Malta Western Europe A3 1.39%
Mauritius Asia Baa1 1.84%
Mexico Central and South America A3 1.39%
Moldova Eastern Europe & Russia B3 7.51%
Mongolia Asia Caa1 8.66%
Montenegro Eastern Europe & Russia B1 5.20%
Montserrat Caribbean Baa3 2.54%
Morocco Africa Ba1 2.89%
Mozambique Africa Caa3 11.55%
Namibia Africa Baa3 2.54%
Netherlands Western Europe Aaa 0.00%
NewZealand Australia & New Zealand Aaa 0.00%
Nicaragua Central and South America B2 6.36%
Nigeria Africa B1 5.20%
Norway Western Europe Aaa 0.00%
Oman Middle East Baa1 1.84%
Pakistan Asia B3 7.51%
Panama Central and South America Baa2 2.20%
PapuaNewGuinea Asia B2 6.36%
Paraguay Central and South America Ba1 2.89%
Peru Central and South America A3 1.39%
Philippines Asia Baa2 2.20%
Poland Eastern Europe & Russia A2 0.98%
Portugal Western Europe Ba1 2.89%
Qatar Middle East Aa2 0.57%
RasAlKhaimah(Emirateof) Middle East A2 0.98%
Romania Eastern Europe & Russia Baa3 2.54%
Russia Eastern Europe & Russia Ba1 2.89%
Rwanda Africa B2 6.36%
SaudiArabia Middle East A1 0.81%
Senegal Africa B1 5.20%
Serbia Eastern Europe & Russia B1 5.20%
Sharjah Middle East A3 1.39%
Singapore Asia Aaa 0.00%
Slovakia Eastern Europe & Russia A2 0.98%
Slovenia Eastern Europe & Russia Baa3 2.54%
SouthAfrica Africa Baa2 2.20%
Spain Western Europe Baa2 2.20%
SriLanka Asia B1 5.20%
St.Maarten Caribbean Baa2 2.20%
St.Vincent&theGrenadines Caribbean B3 7.51%
Suriname Central and South America B1 5.20%
Sweden Western Europe Aaa 0.00%
Switzerland Western Europe Aaa 0.00%
Taiwan Asia Aa3 0.70%
Thailand Asia Baa1 1.84%
TrinidadandTobago Caribbean Baa3 2.54%
Tunisia Africa Ba3 4.16%
Turkey Western Europe Ba1 2.89%
TurksandCaicosIslands Caribbean Caa1 8.66%
Uganda Africa B2 6.36%
Ukraine Eastern Europe & Russia Caa3 11.55%
UnitedArabEmirates Middle East Aa2 0.57%
UnitedKingdom Western Europe Aa1 0.46%
UnitedStates Western Europe Aaa 0.00%
Uruguay Central and South America Baa2 2.20%
Venezuela Central and South America Caa3 11.55%
Vietnam Asia B1 5.20%
Zambia Africa B3 7.51%

FrontierMarkets(nosovereignratings)
Country PRS Composite Risk Score ERP CRP
Algeria 60.3 13.72% 7.47%
Brunei 72.8 9.75% 3.50%
Gambia 61.5 13.72% 7.47%
Guinea 48.5 20.00% 13.75%
Guinea-Bissau 64.5 12.48% 6.23%
Guyana 64.5 12.48% 6.23%
Haiti 58.0 16.61% 10.36%
Iran 72.0 11.22% 4.97%
Korea, D.P.R. 56.0 17.24% 10.99%
Liberia 52.8 17.24% 10.99%
Libya 50.0 20.00% 13.75%
Madagascar 64.5 12.48% 6.23%
Malawi 54.8 17.24% 10.99%
Mali 63.5 13.90% 7.65%
Myanmar 61.8 13.72% 7.47%
Niger 53.8 17.24% 10.99%
Sierra Leone 57.3 16.61% 10.36%
Somalia 41.0 20.00% 13.75%
Sudan 48.3 20.00% 13.75%
Syria 45.8 20.00% 13.75%
Tanzania 64.0 13.90% 7.65%
Togo 61.0 13.72% 7.47%
Yemen, Republic 50.5 17.24% 10.99%
Zimbabwe 56.0 17.24% 10.99%

Rating Default spread in basis points

A1 81
A2 98
A3 139
Aa1 46
Aa2 57
Aa3 70
Aaa 0
B1 520
B2 636
B3 751
Ba1 289
Ba2 347
Ba3 416
Baa1 184
Baa2 220
Baa3 254
Ca 1386
Caa1 866
Caa2 1040
Caa3 1155
NR NA
 5.69% Updated January 5, 2017
Yes
1.23 Updated January 5, 2017

TotalEquityRiskPremium CountryRiskPremium SovereignCDS,netofUS TotalEquityRiskPremium2 CountryRiskPremium3

6.40% 0.71% 0.59% 6.42% 0.73%
12.09% 6.40% NA NA NA
8.82% 3.13% NA NA NA
12.09% 6.40% NA NA NA
14.94% 9.25% 4.76% 11.55% 5.86%
12.09% 6.40% NA NA NA
7.96% 2.27% NA NA NA
5.69% 0.00% 0.11% 5.83% 0.14%
6.25% 0.56% 0.14% 5.86% 0.17%
9.24% 3.55% NA NA NA
8.82% 3.13% NA NA NA
9.96% 4.27% 2.79% 9.12% 3.43%
10.81% 5.12% NA NA NA
16.35% 10.66% NA NA NA
16.35% 10.66% NA NA NA
6.55% 0.86% 0.22% 5.96% 0.27%
18.49% 12.80% NA NA NA
6.90% 1.21% NA NA NA
10.81% 5.12% NA NA NA
14.94% 9.25% NA NA NA
6.90% 1.21% NA NA NA
9.96% 4.27% 3.21% 9.64% 3.95%
8.40% 2.71% 1.49% 7.52% 1.83%
14.94% 9.25% NA NA NA
13.51% 7.82% NA NA NA
13.51% 7.82% NA NA NA
 5.69% 0.00% NA NA NA
6.55% 0.86% NA NA NA
13.51% 7.82% NA NA NA
6.55% 0.86% 0.91% 6.81% 1.12%
6.55% 0.86% 1.27% 7.25% 1.56%
8.40% 2.71% 2.04% 8.20% 2.51%
14.94% 9.25% NA NA NA
14.94% 9.25% NA NA NA
16.35% 10.66% NA NA NA
9.24% 3.55% 3.02% 9.41% 3.72%
10.81% 5.12% NA NA NA
9.96% 4.27% 2.22% 8.42% 2.73%
18.49% 12.80% NA NA NA
16.35% 10.66% NA NA NA
12.09% 6.40% 2.29% 8.51% 2.82%
6.69% 1.00% 0.36% 6.13% 0.44%
5.69% 0.00% 0.03% 5.73% 0.04%
12.09% 6.40% NA NA NA
14.94% 9.25% NA NA NA
14.94% 9.25% 4.38% 11.08% 5.39%
14.94% 9.25% NA NA NA
6.69% 1.00% 0.43% 6.22% 0.53%
12.09% 6.40% NA NA NA
12.09% 6.40% NA NA NA
6.25% 0.56% 0.07% 5.78% 0.09%
6.40% 0.71% 0.32% 6.08% 0.39%
12.09% 6.40% NA NA NA
10.81% 5.12% NA NA NA
5.69% 0.00% 0.06% 5.76% 0.07%
14.94% 9.25% NA NA NA
19.90% 14.21% NA NA NA
9.24% 3.55% NA NA NA
6.25% 0.56% NA NA NA
13.51% 7.82% NA NA NA
6.25% 0.56% 0.20% 5.94% 0.25%
8.82% 3.13% 1.29% 7.28% 1.59%
7.40% 1.71% 0.72% 6.58% 0.89%
8.82% 3.13% 1.38% 7.39% 1.70%
8.82% 3.13% 1.87% 7.99% 2.30%
14.94% 9.25% NA NA NA
7.40% 1.71% 0.64% 6.48% 0.79%
6.25% 0.56% NA NA NA
6.69% 1.00% 0.74% 6.60% 0.91%
8.40% 2.71% 1.84% 7.95% 2.26%
14.94% 9.25% NA NA NA
6.69% 1.00% 0.24% 5.99% 0.30%
16.35% 10.66% NA NA NA
12.09% 6.40% NA NA NA
8.82% 3.13% 1.75% 7.84% 2.15%
12.09% 6.40% NA NA NA
6.40% 0.71% 0.29% 6.05% 0.36%
6.40% 0.71% NA NA NA
13.51% 7.82% NA NA NA
7.40% 1.71% 0.64% 6.48% 0.79%
13.51% 7.82% 5.19% 12.08% 6.39%
5.69% 0.00% NA NA NA
7.40% 1.71% 0.56% 6.38% 0.69%
5.69% 0.00% NA NA NA
6.55% 0.86% NA NA NA
10.81% 5.12% NA NA NA
7.40% 1.71% 1.56% 7.61% 1.92%
7.40% 1.71% NA NA NA
7.96% 2.27% NA NA NA
7.40% 1.71% 1.82% 7.93% 2.24%
14.94% 9.25% NA NA NA
16.35% 10.66% NA NA NA
12.09% 6.40% NA NA NA
8.82% 3.13% NA NA NA
9.24% 3.55% 1.73% 7.82% 2.13%
19.90% 14.21% NA NA NA
8.82% 3.13% NA NA NA
5.69% 0.00% 0.13% 5.85% 0.16%
5.69% 0.00% 0.12% 5.84% 0.15%
13.51% 7.82% NA NA NA
12.09% 6.40% 5.38% 12.31% 6.62%
5.69% 0.00% 0.00% 5.69% 0.00%
7.96% 2.27% NA NA NA
14.94% 9.25% 3.80% 10.37% 4.68%
8.40% 2.71% 1.56% 7.61% 1.92%
13.51% 7.82% NA NA NA
9.24% 3.55% NA NA NA
7.40% 1.71% 1.35% 7.35% 1.66%
8.40% 2.71% 1.23% 7.20% 1.51%
6.90% 1.21% 0.79% 6.66% 0.97%
9.24% 3.55% 3.04% 9.43% 3.74%
6.40% 0.71% 0.79% 6.66% 0.97%
6.90% 1.21% NA NA NA
8.82% 3.13% 1.13% 7.08% 1.39%
9.24% 3.55% 2.08% 8.25% 2.56%
13.51% 7.82% NA NA NA
6.69% 1.00% 1.07% 7.01% 1.32%
12.09% 6.40% NA NA NA
12.09% 6.40% NA NA NA
7.40% 1.71% NA NA NA
5.69% 0.00% NA NA NA
6.90% 1.21% 0.47% 6.27% 0.58%
8.82% 3.13% 1.14% 7.09% 1.40%
8.40% 2.71% 2.49% 8.75% 3.06%
8.40% 2.71% 0.87% 6.76% 1.07%
 12.09% 6.40% NA NA NA
8.40% 2.71% NA NA NA
14.94% 9.25% NA NA NA
12.09% 6.40% NA NA NA
5.69% 0.00% 0.02% 5.71% 0.02%
5.69% 0.00% 0.12% 5.84% 0.15%
6.55% 0.86% NA NA NA
7.96% 2.27% 0.90% 6.80% 1.11%
8.82% 3.13% NA NA NA
10.81% 5.12% 4.62% 11.37% 5.68%
9.24% 3.55% 3.06% 9.46% 3.77%
16.35% 10.66% NA NA NA
13.51% 7.82% NA NA NA
19.90% 14.21% 7.26% 14.62% 8.93%
6.40% 0.71% NA NA NA
6.25% 0.56% 0.23% 5.97% 0.28%
5.69% 0.00% 0.00% 5.69% 0.00%
8.40% 2.71% NA NA NA
19.90% 14.21% 30.44% 43.15% 37.46%
12.09% 6.40% 2.23% 8.43% 2.74%
14.94% 9.25% NA NA NA

Default Spread
5.34%
2.50%
5.34%
9.82%
4.45%
4.45%
7.40%
3.55%
7.85%
7.85%
9.82%
4.45%
7.85%
5.46%
5.34%
7.85%
7.40%
9.82%
9.82%
9.82%
5.46%
5.34%
7.85%
7.85%
Has to be sorted in ascending order
Rating
Default spread in basis points
A1 81
A2 98
A3 139
Aa1 46
Aa2 57
Aa3 70
Aaa 0
B1 520
B2 636
B3 751
Ba1 289
Ba2 347
Ba3 416
Baa1 184
Baa2 220
Baa3 254
Ca 1386
Caa1 866
Caa2 1040
Caa3 1155
NR NA
2.082%
COST OF DEBT IN RUPIAH

Investasi
Keterangan Des '16
Bank Persero 10.43
Bank Pemerintah Daerah 11.49
Bank Swasta Nasional 11.94
Bank Asing dan Bank Campuran 10.32
Bank Umum 11.21
AVG 11.08

COST OF DEBT IN USD

Investasi
Keterangan Des '16
Bank Persero 5.35
Bank Pemerintah Daerah 6.63
Bank Swasta Nasional 5.77
Bank Asing dan Bank Campuran 3.62
Bank Umum 4.94
AVG 5.26