Fitch revises eight Indonesia banks

Fitch Ratings said it revised the national long-term ratings of eight Indonesian financial institutions in accordance with the recalibration of the agency's Indonesian national rating scale.

The recalibration better reflects changes in the relative creditworthiness among the country's issuers that have taken place since the upgrade of the sovereign rating in December 2017, Fitch said.

PT BFI Finance Indonesia Tbk.'s national long-term rating was revised to A+(idn) from AA-(idn) and its national short-term rating was downgraded to F1(idn) from F1+(idn). The national long-term ratings on its senior bond tranches were revised to A+(idn) from AA-(idn).

PT Astra Sedaya Finance's national long-term rating was revised to AA+(idn) from AAA(idn) and its national long-term ratings on its senior bond tranches were revised to AA+(idn) from AAA(idn).

PT Bank BRIsyariah Tbk.'s national long-term rating was revised to AA(idn) from AA+(idn) and its national subordinated sukuk rating was revised to A(idn) from A+(idn).

PT Bank Mandiri (Persero) Tbk.'s national long-term rating was revised to AA+(idn) from AAA(idn).

PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk.'s (Bank BJB) national long-term rating was revised to A+(idn) from AA-(idn).

PT Bank Rakyat Indonesia (Persero) Tbk.'s national long-term rating was revised to AA+(idn) from AAA(idn).

PT Federal International Finance's national long-term rating was revised to AA+(idn) from AAA(idn) and its rupiah senior unsecured bond tranches were revised to AA+(idn) from AAA(idn). PT Mandiri Tunas Finance's national long-term rating was revised to AA-(idn) from AA(idn).

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