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Published on 5/23/2006 in the Prospect News Emerging Markets Daily.

Fitch ups some national ratings of Indonesian banks

Fitch Ratings said it has revised the national ratings of eight banks in Indonesia, including upgrading Bank NISP's national long-term rating to AA+ from A- and support rating to 3 from 4; affirming the long-term foreign and local currency issuer default ratings BB-, short-term B and individual C/D. The outlook is stable.

Fitch said it revised Bank Buana's national long-term rating to AA+ from A-; upgraded the support rating to 3 from 4 and affirmed the long-term foreign and local currency IDRs at BB-, short-term rating at B and individual rating at C/D. The outlook is stable.

Fitch revised Bank Rakyat Indonesia's national long-term rating to AA+ from A+ and affirmed the long-term foreign currency IDR at BB-, the short-term rating at B and the individual rating at C/D and support 4. The outlook is stable.

For Bank Mandiri, Fitch revised its national long-term rating to AA from A; the other ratings are affirmed at long-term foreign and local currency IDRs BB-, short-term B, individual D and support 4. The outlook is stable.

For Bank Central Asia, Fitch revised its national long-term rating to AA from A-; the other ratings are affirmed at long-term foreign currency IDR BB-, short-term B, individual C/D and support 4. The outlook is stable.

For Bank Danamon, Fitch revised its national long-term rating to AA- from A-; the other ratings are affirmed at long-term foreign currency IDR BB-, short-term B, individual C/D and support 4. The outlook is stable.

Fitch revised Bank Internasional Indonesia's national long-term rating to AA- from BBB+; the other ratings are affirmed at long-term foreign currency IDR BB-, short-term B, individual C/D and support 4. The outlook is stable.

Finally, Fitch said it revised Bank Negara Indonesia's national long-term rating to A+ from BBB+; the other ratings are affirmed at long-term foreign and local currency IDRs BB-, short-term B, individual D and support 4. The outlook is stable.

The ratings agency also said it upgraded the support ratings of Bank NISP and Bank Buana to 3 from 4. All other ratings of the banks have been affirmed.


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