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 business all PEFINDO employees shall comply with and implement a Code of Conduct (Pedoman Perilaku).

This Code of Conduct (Pedoman Perilaku) has been structured with reference to this following provisions:

1. Financial Service Authority (OJK) Regulation No. 24/POJK.04/2021 regarding Guidelines for the Activities of Credit Rating Company.

2. Code of Conduct Fundamentals for Credit Rating Agencies (“IOSCO Code”) published by International Organization of Securities Commissions (“IOSCO”). The members of IOSCO consists of capital market authority from more than 100 countries.

3. Code of Ethics and Best Practices Framework adopted by Association of Credit Rating Agencies in Asia (“ACRAA”). ACRAA is an association established by Asian credit rating agencies, and supervised by Asian Development Bank (“ADB”).

For the purpose of public disclosure, PEFINDO has posted this Code of Conduct (Pedoman Perilaku) on its website, www.pefindo.com. In publishing this Code of Conduct, PEFINDO does not impose any obligations and responsibilities on any third party in connection with the or the implementation of the Code of Conduct by PEFINDO. PEFINDO does not impose obligations and responsibilities on third parties in connection with the Code of Conduct (Pedoman Perilaku) or the implementation of the Code of Conduct (Pedoman Perilaku) by PEFINDO. This Code of Conduct (Pedoman Perilaku) is not part of an agreement with any third party, and any third party has no right to claim its provisions. PEFINDO has the right to change this Code of Conduct (Pedoman Perilaku) from time to time if there are any changes in the regulations regarding ratings, changes in market conditions, prevailing laws and regulations.

For more details on PEFINDO Code of Conduct (Pedoman Perilaku), please click this link.