Fitch: No impact from acquisition on BFI's ratings

JAKARTA: Fitch Ratings says the recent acquisition by The Trinugraha Capital & Co Investor group over a 45% stake in PT BFI Finance Indonesia Tbk has no immediate impact on BFI's ratings.In a press statement published today, Fitch Ratings said that the
News Editor
News Editor - Bisnis.com 31 Mei 2011  |  09:05 WIB

JAKARTA: Fitch Ratings says the recent acquisition by The Trinugraha Capital & Co Investor group over a 45% stake in PT BFI Finance Indonesia Tbk has no immediate impact on BFI's ratings.In a press statement published today, Fitch Ratings said that the bank's National Long-term rating 'A(idn)'/Stable and proposed bond rating of 'A(idn)(exp)' are driven by its standalone risk profile.As the acquisition was only completed recently, Fitch points out that it is too early to ascertain the new shareholder's commitment to BFI. Over the medium-to long-term, the ratings may see upward momentum if the agency believes the new shareholder is willing and able to provide timely support - if needed - to BFI, possibly by injecting capital into the company.Established in 1982, BFI focuses on leasing and consumer financing in Java, Sumatra, Kalimantan and Eastern Indonesia with over 100 branches nationwide. BFI is the largest independent finance company with total assets of IDR 4.1 trillion as of March 31, 2011. (NOM)

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Editor : Muhammad Fariz Aulia

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