Fitch: Bank Mandiri probe 'a concern'

Fitch Ratings said that the seeming escalation in the events surrounding the probe on loan irregularities at Bank Mandiri over the past week is a concern but the implications are as yet too uncertain to justify any rating action.

Bank Mandiri is rated long-term foreign and local currency BB- and short-term foreign currency B. The individual rating is C/D and support rating 4.

Recent press reports appear to suggest that the size of the loans under investigation by state prosecutors may widen to as large as Rs. 12.2 trillion compared to earlier press news over a week ago of an amount closer to Rs. 1.1 trillon.

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