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Fitch lifts Bank Tabungan
Fitch Ratings said it upgraded the national long-term rating of PT Bank Tabungan Pensiunan Negara Tbk. to AA+(idn) from AA(idn).
The outlook is stable.
Fitch also said it affirmed the bank’s national short-term rating at F1+(idn).
The agency also upgraded the bank’s senior unsecured bond II & III BTPN 2010 to AA+(idn) from AA(idn), bond program I BTPN 2011 and its tranches under the program to AA+(idn) from AA(idn) and bond program II BTPN 2013 and its tranches under the program to AA+(idn) from AA(idn).
The upgrades reflect a view that its parent, Sumitomo Mitsui Banking Corp., has a higher propensity to provide support, in case of need, to its Indonesian subsidiary, Fitch said.
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