Fitch rates BTPN’s bonds AAA(idn)

Fitch Ratings said it assigned ratings of AAA(idn) to PT Bank BTPN Tbk.’s proposed rupiah senior unsecured bonds.

The bonds to be sold under the bank’s fourth senior program of up to Rp 5 trillion under the first tranche will have a maturity of up to five years.

The first tranche will be for up to Rp 1 trillion with proceeds to be used to support the bank’s business growth.

BTPN is a subsidiary of Sumitomo Mitsui Banking Corp. and Fitch said it believes the parent would provide extraordinary support if needed.

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