Fitch affirms Astra Sedaya, Federal International

Fitch Ratings said it affirmed the long-term issuer default ratings on PT Astra Sedaya Finance and PT Federal International Finance at BBB-.

The short-term issuer default rating was affirmed at F3.

At the same time, Fitch affirmed the national ratings on Astra Sedaya, Federal International Finance and two other finance subsidiaries of PT Astra International Tbk., PT Surya Artha Nusantara Finance and PT Toyota Astra Financial Services.

The outlooks are stable.

Fitch said the affirmations reflect an expectation that the companies will benefit from extraordinary support from their majority shareholder if required.

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