TEXT-Fitch: Provide MTN Traveller BII Finance 'AA + (idn)

Mon Feb 18, 2013 4:39am EST

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(The following statement was released by the rating agency)

Feb 18 - Fitch Ratings gave the National Long-term rating 'AA + (idn)' over the medium-term notes (MTN) 2013 which will be published by PT BII Finance Center (BIIF) amounted to 200 billion dollars with a term of 36 months. Proceeds from this MTN issuance will be used to support the business growth of the company.

Consideration The ranking

MTN rated at the same level with the National Long-Term rating BIIF at 'AA + (idn)' because it reflects MTN liability company that is direct, unconditional obligations, unsecured and subordinated debt is not a company.

The ratings reflect Fitch's expectation BIIF reflect the timely support from shareholders, Bank International Indonesia Tbk (BII; 'BBB' / 'AAA (idn)' / Stable) and the ultimate parent company, Malayan Banking Berhad (Maybank; 'A - '/ Stable) if necessary. The ratings also consider the company's integration with BII and important position in developing the BIIF against Maybank bisnisya Indonesia's consumer market is growing rapidly. BII continues to provide financial support to the BIIF through co-financing schemes which bear most of the BII credit risk.

Factors Fueling Rating

Developments show pelemahaan support from the parent company, such as a change of ownership or a significant decrease in the financial ability of the parent company, may cause the company's downgrades several levels. This is due to the company's credit profile is not adequate to support the company's current ratings.

BIIF wholly owned by the Bank and focus on the business car financing in Indonesia.

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