Fitch affirms Bank Mega bond

Fitch Ratings said it affirmed PT Bank Mega Tbk's national long-term rating at A+(idn), along with its Rp 1 trillion, 10-year subordinated bond I/2007 issued in January 2008 at A(idn).

The outlook is stable.

Although the bank's assets quality was good and well-reserved in the first nine months of 2008, it is likely to weaken with the tougher operating conditions ahead, Fitch said.

The agency said it is particularly concerned about the rapid expansion and the unseasoned corporate and commercial loans.

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