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Pefindo downgrades BII bond rating
Local rating agency PT Pefindo has downgraded the rating of private lender Bank Internasional Indonesiaâs (BII) continuous subordinated bondsâworth Rp 3 trillion (US$252
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ocal rating agency PT Pefindo has downgraded the ratingof private lender Bank Internasional Indonesia's (BII) continuous subordinatedbonds'worth Rp 3 trillion (US$252.63 million)'to AA from the previous AA+.
According to a statement submitted by BII to the Indonesia Stock Exchange (IDX) on Monday, Pefindo downgraded the rating was merely due to the change in the methodology applied by Pefindo based on Bank Indonesia regulation no.15/12/PBI/2013 dated Dec.12, 2013 concerning minimum capital requirement for commercial banks, complying with the Basel III Accord.
'The obligor's capability to fulfill its long-term commitment, compared to other obligors, is very strong,' the statement reads.
BII announced the plan to issue the debt papers in June. The issuance is part of its efforts at generating funds to increase its productive assets, especially to finance its loans disbursement.
