Moody's raises nine Indonesian banks

Moody's Investors Service said it has raised all the constrained foreign currency debt and deposit ratings of nine Indonesian banks.

The nine banks are Bank Danamon Indonesia, Bank Internasional Indonesia, Bank Mandiri, Bank Negara Indonesia, Bank Niaga, Bank Permata, Bank Rakyat Indonesia, Bank Tabungan Negara and Pan Indonesia Bank. The revised ratings carry a stable outlook. The Not-Prime short-term deposit and bank financial strength ratings of all nine banks are unaffected.

Moody's raised the ratings for Bank Danamon Indonesia: subordinated debt to B1 from B2, and long-term deposit to B2 from B3; Bank Internasional Indonesia: issuer rating to B1 from B2, subordinated debt to B1 from B2, and long-term deposit to B2 from B3; Bank Mandiri: senior/subordinated debt to B1/B1 from B2/B3, and long-term deposit to B2 from B3;

Moody's also raised Bank Negara Indonesia: senior/subordinated debt to B1/B1 from B2/B3, and long-term deposit to B2 from B3; Bank Niaga: issuer rating to B1 from B2, subordinated debt to B1 from B2, and long-term deposit to B2 from B3; Bank Permata: long-term deposit to B2 from B3; Bank Rakyat Indonesia: subordinated debt to B1 from B3, and long-term deposit to B2 from B3; Bank Tabungan Negara: long-term deposit to B2 from B3; and Pan Indonesia Bank: long-term deposit to B2 from B3.

The following ratings were unaffected: Bank Danamon Indonesia: short-term deposit of Not-Prime, and bank financial strength of D- with a stable outlook; Bank Internasional Indonesia: short-term deposit of Not-Prime, and bank financial strength of E+ with a stable outlook; Bank Mandiri: short-term deposit of Not-Prime, and bank financial strength of E+ with a stable outlook;

Also unaffected were Bank Negara Indonesia: short-term deposit of Not-Prime, and bank financial strength of E with a stable outlook; Bank Niaga: short-term deposit of Not-Prime, and bank financial strength of E+ with a stable outlook; Bank Permata: short-term deposit of Not-Prime, and bank financial strength of E+ with a positive outlook; Bank Rakyat Indonesia: short-term deposit of Not-Prime, and bank financial strength of D- with a stable outlook; Bank Tabungan Negara: short-term deposit of Not-Prime, and bank financial strength of E with a stable outlook; and Pan Indonesia Bank: short-term deposit of Not-Prime, and bank financial strength of D- with a stable outlook.

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