S&P lowers Bank Negara view to stable

Standard & Poor's said it revised the outlook on the foreign currency rating on PT Bank Negara Indonesia Tbk. (BNI, foreign currency B+/stable/B, local currency B+/positive/B) to stable from positive.

At the same time, S&P said it affirmed its ratings on BNI.

The agency said the action is due to its revision of the outlook on Indonesia (foreign currency B+/stable/B, local currency BB/stable/B) to stable from positive.

S&P said the outlook change on the sovereign reflects increasing concern over the apparent inability and unwillingness of the Indonesian authorities to address the underlying structural causes behind the rupiah's recent rapid depreciation.

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