(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
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.