Fitch places Hino Finance on watch

Fitch Ratings said it placed Hino Finance Indonesia's AAA(idn) national long-term rating and outstanding issuance ratings on rating watch negative.

“The RWN reflects the uncertainty over the credit profile of Hino Motors, Co. Ltd., which owns 40% of HFI, following an announcement of a potential change in Hino Motors' shareholding structure. HFI's rating is currently driven by our expectation of extraordinary support from Hino Motors in times of need and linked to our assessment of the shareholder's credit profile,” Fitch said in a press release.

The agency warned the RWN may more than six months to resolve and will depend on the outcome of Hino Motors’ transaction.

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