Fitch affirms Indonesia banks

Fitch Ratings said it affirmed all the ratings of Bank Buana, Bank NISP, Bank Danamon and Bank Negara Indonesia with stable outlooks.

Bank Buana's ratings affirmed include its long-term foreign- and local-currency issuer default ratings at BB-, short-term foreign-currency at B, national long-term at AA+(idn), individual rating at C/D and support rating at 3. The ratings reflect support from its financially strong parent, United Overseas Bank, as well as the bank's own solid capital position and profitability.

Bank NISP's ratings affirmed include its long-term foreign- and local-currency issuer default ratings at BB-, short-term foreign-currency at B, national long-term rating at AA+(idn), individual rating at C/D, support rating at 3 and subordinated notes at B+. The ratings reflect support from its financially strong parent, OCBC Bank.

Bank Danamon's ratings affirmed include its long-term foreign-currency issuer default rating at BB-, short-term foreign-currency at B, national long-term rating at AA-(idn), individual rating at C/D and support rating at 4. The ratings reflect its adequate capital position and reduced but still reasonably strong profitability due to its high-yield loan business.

Bank Negara Indonesia's ratings affirmed include its long-term foreign- and local-currency issuer default ratings at BB-, short-term foreign-currency at B, national long-term at A+(idn), individual rating at D, support rating at 4 and subordinated notes at B+. The ratings reflect its still weak asset quality while noting moderate improvement in profitability and capital position.

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