Fitch affirms Wahana Ottomitra

Fitch Ratings said it affirmed PT Wahana Ottomitra Multiartha Tbk.'s national long-term rating at AA(idn) and national short-term rating at F1+(idn).

Also affirmed includes the company's bond IV/2007 at AA(idn), bond V/2011 at AA(idn), medium-term notes I and II 2010 at AA(idn) and subordinated debt at AA-(idn).

The ratings are driven by support from its majority shareholder, Bank Internasional Indonesia, Fitch said.

Bank International Indonesia increased its stake in Wahana Ottomitra in July to 62% from 50%, the agency said.

Fitch noted that the bank's improving financial performance also is a positive development for Wahana Ottomitra by way of strengthening its capacity for support.

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