Fitch affirms Bank International Indonesia

Fitch Ratings said it affirmed PT Bank International Indonesia Tbk's long-term foreign-currency issuer default rating at BB. The action comes after news that Fullerton Financial Holdings, a subsidiary of Temasek Holdings, intends to sell its interest in the bank.

The ratings are driven by its standalone financial profile, Fitch said. It also reflects the bank's satisfactory balance sheet position with a lower profitability in 2007, underlining efforts by the bank to clean up its motorcycle financing and credit card businesses, the agency said.

The agency said it will continue to monitor the progress of the divestment by Temasek for its implications on the bank's ratings.

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