Fitch: BFI Finance bonds A+

Fitch Ratings said it assigned an A+ national rating to PT BFI Finance Indonesia Tbk.’s proposed rupiah senior unsecured bonds with two- and three-year maturities.

The company’s bonds with maturity of 370 days were assigned a national short-term rating of F1(idn).

The bonds are to be issued under BFI Finance’s existing senior debt program of up to Rp 2.5 trillion, which Fitch said it assigned national long-term ratings of A+(idn) and short-term ratings of F1(idn).

The issue will be up to Rp 1 trillion in total and the proceeds will be used to support business growth, Fitch said.

The bonds are rated at the same level as the company’s national long-term and short-term ratings, driven by its standalone performance as one of the largest independent finance companies in Indonesia, the agency said.

BFI Finance also has a solid financial record with high capitalization, Fitch said.

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