Fitch gives Bank Rakyat notes BBB-

Fitch Ratings said it assigned PT Bank Rakyat Indonesia (Persero) Tbk.'s (BBB-/stable/bb+) proposed senior unsecured notes an expected rating of BBB-(EXP).

The notes will be for up to $500 million in size with a tenor of five years.

Proceeds will be used for general funding purposes.

The notes are rated at the same level as Bank Rakyat’s long-term foreign-currency issuer default rating in accordance with Fitch's criteria, as they will constitute direct, unconditional, unsubordinated and unsecured obligations of the bank and rank equally with all its other unsecured and unsubordinated obligations, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.