Fitch assigns Bank Niaga notes B+

Fitch Ratings said it assigned a B+ rating to Bank Niaga's proposed $100 million 10-year subordinated debt issue.

At the same time, Fitch said it has affirmed the bank's existing ratings including long-term senior foreign currency rating of BB-, individual rating of D and support rating of 4.

The outlook remains positive.

The agency said Niaga's long-term foreign currency ratings remain constrained by the Indonesian sovereign rating of BB-.

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