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.