JAKARTA: Pefindo affirmed its "idA-" ratings for PT BFI Finance Indonesia Tbk and the company's Bond II/2009.Dimas Aditya and Danan Dito, analyst at PT Pemeringkat Efek Indonesia, in a press statement today, said that Pefindo has not taken any rating action on the recent change in BFI's shareholding structure. The rating action will be subject to the clearer signal of the positive impact from the new shareholders to the company's business and financial profile.Pefindo views that BFI's current rating is supported by the company's strong capitalization and and sound profitability measures. Meanwhile, the rating is constrained by the company's below average asset quality and moderate business growth.BFI is a financing company which focuses its business on automotive consumer financing and leasing services.On May 19, the number one executive of PT Adaro Energy Tbk, Boy Garibaldi Thohir acquired around 45% non-controlling shares of PT BFI Finance Indonesia Tbk through Trinugraha Capital & Co (TC&Co).Garibaldi Thohir led a consortium that involved TPG Capital and Northstar Equity Partners, founded by former banker Goldman Sach Patrick Walujo, as an investor in TC&Co.TPG Capital is one of global investment units of TPG, being established in 1992 with the total asset reaching US$48 billion. In the meantime, Northstar Equity Partners is a financial investment company focusing in Indonesia while Trinugraha Capital & Co happens to be a financial company being stablished in Luxemburg. (msw)

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