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Moody's raises FC deposit ratings of top 10 Indonesian banks to Ba2

JAKARTA: Moody's Investors Service has raised the foreign currency long-term deposit ratings of 10 Indonesian banks to Ba2 from Ba3 with the stable outlooks. The 10 Indonesia banks are Bank Central Asia, Bank CIMB-Niaga, Bank Danamon Indonesia, Bank

JAKARTA: Moody's Investors Service has raised the foreign currency long-term deposit ratings of 10 Indonesian banks to Ba2 from Ba3 with the stable outlooks. The 10 Indonesia banks are Bank Central Asia, Bank CIMB-Niaga, Bank Danamon Indonesia, Bank Internasional Indonesia, Bank Mandiri, Bank Negara Indonesia, Bank Permata, Bank Rakyat Indonesia, Bank Tabungan Negara and Pan Indonesia Bank. Specifically, the foreign currency and local currency government bond ratings were raised to Ba1 from Ba2; foreign currency deposit ceiling to Ba2 from Ba3, and foreign currency bond ceiling to Baa3 from Ba1. The reviews were in line with the review initiated on December 1, 2010 for Indonesia's Ba2 foreign currency and local currency government bond ratings; Ba3 foreign currency deposit ceiling, and Ba1 foreign currency bond ceiling. The last rating actions on all ten banks were taken on December 1, 2010 when their Ba3 foreign currency long-term deposit ratings were placed on review for possible upgrade. According to the press release posted today on Moodys official site, Bank Mandiri has the biggest asset with IDR409.37 trillion followed by Bank Rakyat Indonesia (BRI) with IDR325.94 trillion, Bank Central Asia(BCA) with IDR310.20 trillion, Bank Negara Indonesia (BNI) with IDR224.81 trillion, Bank CIMB-Niaga with IDR129.14 trillion, Bank Danamon Indonesia with IDR105.22 trillion, Pan Indonesia Bank (Panin Bank)with IDR95.73 trillion Bank Internasional Indonesia (BII) with IDR72.20 trillion, Bank Permata with IDR66.88 trillion, and Bank Tabungan Negara with IDR63.50 trillion. Those ten banks are included on the national top banks in Indonesia and headquartered in Jakarta. Moodys raised foreign currency long-term deposit of Bank Central Asia (BCA) to Ba2 from Ba3. The revised rating carries a stable outlook. All other ratings were unaffected and have stable outlooks including Baa3 for global local currency (GLC) deposit, Ba1 for foreign issuer, Not Prime foreign currency short-term deposit, and D+ for bank financial strength (BFSR) which maps to a Ba1 baseline credit assessment (BCA). Bank CIMB-Niagas foreign currency long-term deposit rating was raised to Ba2 from Ba3 with the stable outlook. All other ratings were unaffected and have stable outlooks including GLC deposit (Baa3), foreign currency issuer/subordinated debt (Ba1/Ba1), Not Prime foreign currency short-term deposit, and BFSR (D) which maps to a Ba2 BCA. The foreign currency long-term deposit rating of Bank Danamon Indonesia was raised to Ba2 from Ba3 with a stable outlook. All other ratings were unaffected and have stable outlooks including GLC deposit (Baa3), Not Prime foreign currency short-term deposit, and BFSR (D) which maps to a Ba2 BCA. The foreign currency long-term deposit rating of Bank Internasional Indonesia (BII) was raised to Ba2 from Ba3. The revised rating carries a stable outlook. All other ratings were unaffected and have stable outlooks such as GLC deposit (Baa3), foreign currency issuer (Ba1), Not Prime foreign currency short-term deposit and BFSR (D) which maps to a Ba2 BCA. For Bank Mandiri, Moodys raised the foreign currency long-term deposit rating to Ba2 from Ba3.The revised rating carries a stable outlook. All other ratings were unaffected and have stable outlooks including Baa3 for GLC deposit; Not Prime foreign currency short-term deposit and D for BFSR, which maps to a Ba2 BCA. Bank Negara Indonesias foreign currency long-term deposit rating was raised to Ba2 from Ba3. The revised rating carries a stable outlook. All other ratings were unaffected including Baa3 for GLC deposit; Not Prime foreign currency short-term deposit and D- for BFSR which maps to a Ba3 BCA. All carry stable outlooks except the BFSR of Mandiri which has a positive outlook. Bank Permatas foreign currency long-term deposit rating was raised to Ba2 from Ba3 with stable outlook. All other ratings were unaffected and have stable outlooks including GLC deposit (Baa3), Not Prime foreign currency short-term deposit, and BFSR (D-), which maps to a Ba3 BCA. The foreign currency long-term deposit rating of Bank Rakyat Indonesia (BRI) was raised to Ba2 from Ba3. The revised rating carries a stable outlook. All other ratings were unaffected and have stable outlooks including Baa3 for GLC deposit; Not Prime foreign currency short-term deposit and D+ for BFSR, which maps to a Ba1 BCA. The foreign currency long-term deposit rating of Bank Tabungan Negara (BTN) was upgraded to Ba2 from Ba3 with a stable outlook. All other ratings were unaffected and have stable outlooks including Baa3 for GLC deposit; Not Prime foreign currency short-term deposit and D- for BFSR, which maps to a Ba3 BCA. Pan Indonesia Bank or Panin Banks foreign currency long-term deposit rating was also upgraded to Ba2 from Ba3 with a stable outlook. All other ratings were unaffected and have stable outlooks such as Baa3 for GLC deposit; Not Prime foreign currency short-term deposit; and D for BFSR, which maps to a Ba3 BCA. (t03/wiw)

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