Fitch rates Bussan Auto bonds AAA

Fitch Ratings said it gave AAA (idn) ratings to PT Bussan Auto Finance's series A 4.1% notes for Rp 88.5 billion due July 2023 and series B 7% notes for Rp 11.5 billion due July 2025.

Bussan will sell the notes under its second bond program for up to Rp 3 trillion.

The AAA (idn) rating is based on the high likelihood of help if needed from Bussan’s majority shareholder Mitsui & Co. Ltd., Fitch said.

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