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Moody's rates BII notes B2
Moody's Investors Service said it assigned a B2 rating to Bank Internasional Indonesia's (BII) $150 million subordinated notes due 2015. The outlook is positive.
Moody's said the rating is underpinned by the subordinated status of the notes and the bank's own capacity to service its debt obligations given its moderate liquidity, but offset by its improving profitability and recapitalized balance sheet.
The rating also anticipates financial and technology support from one of the bank's major shareholders, Temasek Holdings of Singapore. Moody's said the backing of financially strong and reputable shareholders provides greater comfort of available support to BII.
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