PT Pemeringkat Efek Indonesia or "PEFINDO" was established in Jakarta on December 21, 1993, through the initiative of BAPEPAM (the Capital Market's Supervisory Board), and Bank Indonesia (The Central Bank). On August 13, 1994, PEFINDO obtained its operating license (No. 39/PM-PI/1994) from BAPEPAM and remains one of the supporting institutions of the Indonesian Capital Market. PEFINDO's main function is to provide objective, independent and credible ratings on the credit risk of corporate and debt securities through rating activities. Apart from rating activities, PEFINDO continues to produce & publicize credit information relating to the debt capital markets. These publication products cover credit opinion on major companies that have issued bonds and its underlying sectors. PEFINDO is a private limited liability company, and as of December 2015 owned by 86 domestic institutional shareholders, comprising of major pension funds, banks, insurers, Indonesia Stock Exchange (IDX) and securities companies. To enhance the rating methodology & criteria as well as rating process, PEFINDO obtained ISO 9001:2015 certification for Corporate and Debt Instrument Rating Process and Publication. PEFINDO also actively participate in the Asian Credit Rating Agencies Association (ACRAA) since 2008. PEFINDO established a subsidiary company, PT PEFINDO Biro Kredit that operate the business as a Private Credit Bureau (PCB), an entity that collects and processes credit data and other relevant data to generate credit information.