Fitch rates UOB Indonesia's senior bonds AAA(idn)

Fitch said it published the national long-term rating of AAA(idn) on PT Bank UOB Indonesia's (UOB Indonesia, AAA(idn)/stable) proposed rupiah senior bond program and senior bonds issued under the first tranche of the program.

The bond program will be up to IDR 3 trillion in size and IDR 100 billion of bonds with maturity of 370 days will be issued under the first tranche.

“The proposed senior bond is rated at the same level as UOB Indonesia's national long-term rating as it constitutes direct, unsubordinated and senior obligations of the bank and rank equally with all its other senior and unsubordinated obligations,” Fitch said in a news release.

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