Jakarta, INTI - PEFINDO has assigned an idA rating with a stable outlook to PT Solusi Sinergi Digital Tbk (WIFI), also known as Surge.
According to PEFINDO, the rating reflects the company’s advantages in having strong infrastructure quality, high profit margins, and the potential for exponential cash flow growth driven by business expansion.
“The rating is constrained by project execution risks in maintaining stable performance, considering that the company is still relatively new in its operational stage, has a moderate financial profile, and faces regulatory risks related to network expansion,” PEFINDO stated in its report released on Wednesday, April 29, 2026.
Business Expansion and Financial Risks Remain Key Factors
PEFINDO noted that the rating could be upgraded if WIFI successfully executes its Fixed Wireless Access (FWA) and Fiber to the Home (FTTH) business expansion plans on schedule, supported by efficient deployment of new home-passed infrastructure and strong customer acquisition in line with company targets.
“This is expected to significantly improve cash inflows and strengthen the company’s financial profile,” PEFINDO explained.
However, the rating could be downgraded if WIFI’s performance falls significantly below expectations. The rating may also come under pressure if the company adopts a more aggressive funding strategy for business activities without corresponding improvements in its business position.
As of the end of 2025, WIFI’s shareholding structure consisted of PT Investasi Sukses Bersama holding 54.42%, Djoni with 5.28%, Tinawati with 0.29%, and public shareholders accounting for 40.01%.
Conclusion
The idA rating with a stable outlook from PEFINDO reflects confidence in the growth potential and infrastructure strength of PT Solusi Sinergi Digital Tbk (WIFI). While expansion opportunities in FWA and FTTH services offer strong future prospects, the company’s ability to execute projects efficiently and maintain financial stability will remain crucial in supporting its long-term business performance.
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