Bank Utama rated BB plus

Bank Utama rated BB plus

LONDON (Reuter): Cyprus-based bank rating agency Capital Intelligence said yesterday it had assigned a long-term rating of BB plus and a short-term rating of A3 to Indonesia's PT Bank Utama.

This level of ratings is typical for medium-sized private sector Indonesian banks, a Capital Intelligence statement said.

"The last four years have witnessed a program of consolidation which has in particular helped to improve asset quality," the statement said. "Management expects further capital to be raised in 1996, bringing Utama into line with demanding new regulatory guidelines," it added.