Fitch rates Bank Pan Indonesia bonds AA-(idn)

Fitch Ratings said it assigned a national long-term rating of AA-(idn) to PT Bank Pan Indonesia Tbk, upgraded its support rating to 4 from 5 and affirmed its individual rating at C/D. Fitch also assigned an expected rating of AA-(idn) to the bank's proposed senior unsecured bonds program of Rp 1.5 trillion (bond II/2007), which will be issued in three tranches, maturing in three, five and seven years.

The outlook is stable.

The ratings reflect the bank's strong capital position, high but moderately reserved non-performing loans, generally good profitability and limited support from the sovereign and/or Australia and New Zealand Banking Group. Panin is Indonesia's eighth largest bank and Australia and New Zealand Banking Group has a minority interest in the bank, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.