Fitch rates Bank Mandiri bonds AA(idn)

Fitch Ratings said it assigned an AA(idn) national rating of PT Bank Mandiri Taspen's rupiah-denominated senior bond issuance for up to Rp 2 trillion with a tenor of up to five years.

“AA national long-term ratings denote expectations of a very low level of default risk relative to other issuers or obligations in the same country or monetary union. The default risk inherently differs only slightly from that of the country's highest rated issuers or obligations,” Fitch said in a press release.

The proceeds will be used to support the company's working capital requirements.

The outlook is stable.

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