Fitch ends watch on Bussan Auto

Fitch Ratings said it affirmed PT Bussan Auto Finance's AAA national long-term issuer and rating at AAA(idn) and removed the rating watch negative. The agency also removed the RWN on the ratings of the company's senior rupiah issuances and affirmed the ratings at AAA(idn). The outlook is stable.

“The stable outlook reflects the improved credit profile of BAF's largest shareholder and support provider, Mitsui & Co., Ltd. This offsets our assessment of weakened links between Mitsui and its Indonesian financing entity, BAF, following the partial stake sale to a Mitsui affiliate in September 2023, which may lower Mitsui's propensity to support BAF,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.