Fitch rates Bank Pan Indonesia bond AA-(idn)

Fitch Ratings said it assigned a final rating of AA-(idn) to the Rp1.65 trillion senior unsecured bond II/2007 of PT Bank Pan Indonesia Tbk.

The bonds are issued in three tranches, maturing in three, five, and seven years. The rating action follows the completion of the bond issuance and receipt of final documents.

The bank was established in 1971. Australia and New Zealand Banking Group acquired a minority 29.02% stake in 1999 and continues to provide technical assistance in areas like consumer banking, risk management and IT support, Fitch said.

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