Fitch rates Maybank Indonesia bonds AA+(tha)

Fitch Ratings said it assigned a national rating of AA+(idn) to PT Maybank Indonesia Finance’s issue of rupiah senior unsecured bonds.

The issue of Rp 1.1 trillion includes bonds with a maturity of three years and bonds with a maturity of five years.

The proceeds will be used to support business growth.

The bonds are rated at the same level as the bank’s national long-term ratings, Fitch said.

The ratings are driven by a view that Maybank Indonesia is a strategically important subsidiary of PT Bank Maybank Indonesia Tbk., the agency said.

This is evident from the parent’s full ownership and name sharing with its subsidiary and strong operational alignment, Fitch said.

Maybank Indonesia plays an important role in expanding its parent’s consumer business in Indonesia, the agency added.

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