Fitch rates BII Finance bonds AA+(idn)

Fitch Ratings said it assigned a national long-term rating of AA+(idn) to PT BII Finance Center’s senior unsecured debt program of up to Rp 5 trillion, along with a national short-term rating of F1+(idn).

Fitch also said it assigned a national long-term rating of AA+(idn) to the first tranche of Rp 500 billion senior unsecured I/2015 bonds due in five years to be issued under the program.

The bonds are rated at the same level as BII Finance’s national long-term and short-term ratings, the agency said.

The ratings reflect strong support from its parent PT Bank Internasional Indonesia Tbk. and ultimate parent Malayan Banking Bhd., if needed, the agency said.

Fitch said it views BII Finance as a strategically important subsidiary because of its strong linkages to the group.

The view is reinforced by the parent’s full ownership of and name sharing with the subsidiary, strong operational alignment between the two and provision of funding support by the parent to the subsidiary, the agency said.

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