Fitch rates Bank Tabungan bonds AA(idn)

Fitch Ratings said it assigned PT Bank Tabungan Negara (Persero) Tbk.'s proposed Rp. 2 trillion bonds with a maturity of 10 years a national long-term AA(idn) rating.

This is the second bond to be issued under Bank Tabungan's Rp. 4 trillion bond program and the proceeds will be used for business expansion.

The senior bonds are rated the same level as Bank Tabungan's national long-term rating and its bond program's rating of AA(idn), as they reflect direct, unconditional, unsecured and unsubordinated obligations of the bank, Fitch said.

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