Moody's may lift Bank Danamon strength

Moody's Investors Service said it has placed Bank Danamon Indonesia's D- bank financial strength rating (BFSR) on review for possible upgrade. All other ratings are unaffected, including the subordinated debt rating of Ba3 with a stable outlook and the long-term/short-term deposit ratings of B2/Not Prime with a stable outlook.

The review will consider the bank's improved, albeit modest, financial fundamentals under major shareholder Asia Financial Indonesia, the agency said. In particular, the bank's level of economic solvency, adjusted for problem loans on its balance sheet as well as the sustainability and strength of recurring earnings will be assessed to determine whether its BFSR is better-positioned in a higher rating range.

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