Fitch: Bank Internasional Indonesia notes AAA(idn), AA(idn)

Fitch Ratings said it assigned an AAA(idn) rating to the Rp 2 trillion of three- and five-year senior bonds that PT Bank Internasional Indonesia Tbk. plans to issue under its new Rp 4 trillion senior debt program.

The agency assigned an AA(idn) rating to the Rp 500 billion of seven-year subordinated bonds that the bank plans to issue under its new Rp 2 trillion subordinated debt program.

The bank has the following ratings: BB+ long-term foreign-currency issuer default rating with a positive outlook, BB short-term foreign-currency issuer default rating, AAA(idn) national long-term rating with a stable outlook, AA(idn) subordinated debt rating, 3 support rating, C/D individual rating and bb viability rating.

The agency said the national long-term rating reflects strong support from the bank's higher rated parent bank, Malayan Banking Bhd. (A-/stable). According to Fitch, Malayan Banking's long-term plan is to develop Bank Internasional Indonesia as one of its key regional growth platforms.

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