Fitch rates Bank Mandiri Taspen notes AA(idn)

Fitch Ratings Indonesia said it assigned national long-term ratings to PT Bank Mandiri Taspen’s rupiah senior bond offering an AA(idn).

The bank will offer Rp 1 trillion of notes. Proceeds will be used to support the bank’s working capital requirements.

Fitch rates the bonds at the same level as the issuer because they will be direct and senior obligations and rank equally with other senior debt.

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