Fitch affirms Panin Sekuritas

Fitch Ratings said it affirmed PT Panin Sekuritas Tbk's national long-term rating at A(idn), along with its five-year rupiah senior unsecured bonds issued in 2007 at A(idn).

The outlook is stable.

The ratings take into account Panin Sekuritas' strong, but volatile profitability and strong capitalization, Fitch said.

The affirmation also reflects the possibility of limited support from one of its shareholders, Bank Pan Indonesia, which owns a 29% stake in Panin Sekuritas and the shared corporate identity with Panin, the agency said.

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