Fitch rates BCA Finance bonds AA(idn)

Fitch Ratings said it upgraded PT BCA Finance's national long-term rating to AA(idn) from AA-(idn) and assigned an expected rating of AA(idn) to its proposed 15- to 48-month senior bonds amounting to Rp 500 billion and an expected rating of AA-(idn) to its proposed five-year subordinated bond amounting to Rp 100 billion. The final ratings are contingent on the receipt of final documents.

The outlook is stable.

The issue rating for subordinated debt is rated one notch below the issuer's national long-term rating and reflects its subordination to senior obligations, Fitch said.

The upgrade reflects its integration and support from its parent, PT Bank Central Asia Tbk., and its track record of consistently strong financial performance, despite the more challenging economic environment, the agency said.

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