Wed, 22 Mar 2006
Fitch Ratings opens Indonesia office

JAKARTA: Global credit rating agency Fitch Ratings announced Monday that it had opened an Indonesian office, PT Fitch Ratings Indonesia, in Jakarta to take advantage of the country's growing bond market.

Fitch Ratings Indonesia will assign ratings on domestic rupiah bonds, which have more than doubled in value to about US$6.3 million over the last two years.

The London-based rating agency, which operates in more than 11 countries in Asia Pacific, has also obtained a license from the Capital Market Supervisory Agency (Bapepam) to assign ratings on domestic rupiah bonds.

"Our new office in Indonesia reflects our commitment to contributing high quality research to the country's economic and financial sectors," said the agency's Asia Pacific Managing Director Andrea Muller as quoted by online news portal detik.com

Baradita Katoppo, former head of research at PT Kim Eng Securities, will be the president of PT Fitch Ratings Indonesia. (JP/06)



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