BII rating downgraded

BII rating downgraded

HONG KONG (Dow Jones): Thomson BankWatch announced Wednesday it has downgraded PT Bank Internasional Indonesia's short-term local currency debt rating to LC-4 from LC-3.

"Bank Internasional Indonesia's performance has deteriorated sharply in the dire environment facing all of Indonesia's banks," said Mark Jones, a Thomson analyst.

"Ballooning non-performing loans, erosion of earnings and pressure on the capital base are all reflected in the lower rating," he said.

Bank Internasional Indonesia is one of the largest private banks in the country.