Fitch rates Wahana Ottomitra Multiartha notes BBB+(idn)

Fitch Ratings said it assigned an expected rating of BBB+(idn) to PT Wahana Ottomitra Multiartha Tbk.’s proposed Rs.100 billion seven-year subordinated notes. The final rating is contingent upon receipt of final documents.

Fitch also said it affirmed its national long-term rating at A-(idn) with stable outlook, reflecting the support from its parent, PT Bank Internasional Indonesia Tbk (long-term foreign-currency issuer default rating of BB- with positive outlook; national long-term rating of AA-(idn) with stable outlook), and the company’s market position as the third largest motorcycle financing company in Indonesia.

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