Fitch rates Bank Mega bond A(idn)

Fitch Ratings said it assigned a national long-term rating of A+(idn), individual rating of D and support rating of 4 to PT Bank Mega Tbk., along with an expected rating of A(idn) to the bank's proposed 10-year subordinated bond I/2007, amounting to a maximum of Rp 1.5 trillion. The rating is contingent upon receipt of final documents.

The outlook is stable.

The ratings reflect the bank's improved profitability and satisfactory balance sheet, with its below average capital ratios mitigated by the bank's generally good asset quality, Fitch said.

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