Fitch rates Bank Commonwealth bonds AAA (idn)

Fitch Ratings said it published a national long-term rating on PT Bank Commonwealth’s proposed rupiah bond issuance and the bank’s senior debt rating of AAA(idn). The bonds will be up to Rp 1 trillion in size with a maturity of three years.

“The senior debt rating and the rating on the bonds are at the same level as PTBC’s national long-term rating, in accordance with Fitch’s criteria. This is because they represent the bank’s direct and senior unsecured obligations and rank equally with all its other senior unsecured obligations,” Fitch said in a press release.

The proceeds will be used to support the bank’s growth.

© 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.