Fitch upgrades Indonesia banks

Fitch Ratings said it upgraded the long-term foreign-currency issuer default ratings of eight Indonesian banks following the upgrade of Indonesia's long-term local- and foreign-currency issuer default ratings.

The outlook is stable.

Bank Mandiri's long-term foreign-currency issuer default rating was upgraded to BB+ from BB, long-term local-currency issuer default rating to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA+(idn).

Bank Rakyat Indonesia's long-term foreign-currency issuer default rating was upgraded to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AAA(idn).

Bank Central Asia's long-term foreign-currency issuer default rating was upgraded to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AAA(idn).

Bank CIMB Niaga's long-term foreign-currency issuer default rating was upgraded to BB+ from BB and foreign-currency subordinated debt to BB from BB-; national long-term rating was affirmed at AA+(idn).

Bank Danamon's long-term foreign-currency issuer default rating was upgraded to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA+(idn).

Bank Internasional Indonesia's long-term foreign-currency issuer default rating was upgraded to BB+ from BB and foreign-currency debt rating to BB from BB-; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA-(idn) with a positive outlook.

Bank OCBC NISP's long-term foreign-currency issuer default rating was upgraded to BB+ from BB, long-term local-currency issuer default rating to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA+(idn).

Bank UOB Buana's long-term foreign-currency issuer default rating was upgraded to BB+ from BB and its long-term local-currency issuer default rating to BB+ from BB; short-term foreign-currency issuer default rating was affirmed at B and national long-term rating at AA+(idn).

Bank Negara Indonesia's support rating floor was upgraded to BB from BB-.

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