Fitch rates Sinarmas Hana A+(idn)

Fitch Ratings said it assigned a national long-term rating of A+(idn) to PT Sinarmas Hana Finance.

The outlook is stable.

The rating is driven by an expectation of a moderate probability that the company would receive extraordinary support from its parent company, Hana Capital Co., Ltd, if needed, Fitch explained.

Hana Capital is a subsidiary of Hana Financial Group, the agency noted.

But the support is moderate, Fitch said, as the company is of limited importance to its parent.

This is based on Hana Capital's 55%-ownership and the significant influence of minority shareholders, PT Bank KEB Hana Indonesia and PT Sinarmas Multiartha Tbk., the agency said.

The limited support is reflected in the company's shared brand name and an opinion that management functions with a significant degree of independence in its operations and business strategy, Fitch added.

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