Fitch affirms Wahana Ottomitra

Fitch Ratings said it affirmed PT Wahana Ottomitra Multiartha Tbk.'s national long-term rating at A-(idn), along with its rupiah senior bonds at A-(idn) and subordinated notes at BBB+(idn).

The outlook is positive.

The positive view reflects the gradual improvement in the company's asset quality and profitability, albeit from still weak levels, Fitch said, as well as the progress of integration with the parent's internal control and risk management processes.

The rating also reflects the strong commitment of its parent, PT Bank Internasional Indonesia Tbk., which is expected to increase its funding support to the company as part of the expansion of its strategic footprint in consumer financing business, the agency said.

© 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.