Moody's changes 10 Indonesia banks

Moody's Investors Service said it changed the credit ratings of 10 Indonesian banks.

Moody's said it lowered the global local-currency deposit ratings to Baa3 from Baa2 for the four state-owned banks, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia and Bank Tabungan Negara. Moody's also said it confirmed the Baa3 global local-currency deposit ratings for six banks, Bank Central Asia, Bank CIMB-Niaga, Bank Danamon Indonesia, Bank Internasional Indonesia, Bank Permata and Pan Indonesia Bank - with stable outlooks.

Moody's also said it raised the foreign-currency long-term deposit ratings to Ba3 from B1 for all 10 banks. The agency said it raised the foreign-currency issuer ratings for Bank Central Asia, Bank CIMB-Niaga and Bank Internasional Indonesia to Ba1 from Ba2 and the foreign-currency subordinated debt ratings for Bank CIMB-Niaga and Bank Internasional Indonesia to Ba1 from Ba2.

The revised ratings carry stable outlooks.

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