Fitch rates BFI Finance bonds AA-(idn)

Fitch Ratings said it assigned a national long-term rating of AA-(idn) to PT BFI Finance Indonesia Tbk.'s proposed senior unsecured bonds of up to Rp 1.75 trillion with a maximum maturity of three years.

The bonds are the fourth tranche under the company's existing senior unsecured bond program III.

The proceeds will be used for working capital purposes.

The bonds are rated at the same level as BFI's national long-term rating, Fitch said.

The ratings reflect the company's standalone profile as one of the largest independent finance companies in Indonesia with a sustained sound financial performance and balance sheet, healthy profitability, solid capitalization, manageable asset quality and a diversified funding profile, the agency said.

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