Fitch affirms Bank Internasional Indonesia

Fitch Ratings said it affirmed PT Bank Internasional Indonesia Tbk's long-term issuer default rating at BBB and national long-term rating at AAA(idn) with a stable outlook.

At the same time, the agency said it assigned the bank's proposed rupiah senior unsecured bonds tranche II of up to Rp. 2 trillion a AAA(idn) rating, the same level as its national long-term rating.

The agency also assigned its subordinated bonds tranche II of up to Rp. 1 trillion with a maturity of up to 10 years an AA(idn) rating, which is two notches below its national long-term rating.

Fitch said the ratings reflect strong support from its higher-rated parent bank, Malayan Banking Berhad, given its strategic importance to the latter's regional portfolio.

The agency said the support rating of 2 takes into account the bank's strong integration with Maybank in key areas including credit policies, risk management, operational and IT system.

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