Fitch boosts Bank Negara

Fitch Ratings said it upgraded PT Bank Negara Indonesia Tbk.'s long-term foreign- and local-currency issuer default ratings to BB+ from BB and affirmed its national long-term rating at AA(idn) and short-term foreign-currency issuer default rating at B.

The outlook is stable.

The upgrade reflects the bank's improved financial profile, Fitch said, as demonstrated by its stronger profitability.

The more favorable macro environment in 2010 also should help underpin loan quality, the agency said, and earnings are expected to further improve.

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