BNI rating affirmed

BNI rating affirmed

JAKARTA (JP): The U.S.-based rating agency Standard and Poor's
affirmed on Tuesday its "Triple C-" long-term foreign currency
rating on publicly listed Bank Negara Indonesia (BNI) and the
banks US$145 million notes.

The rating agency said the lower foreign currency rating for
Indonesia reflects the country's rescheduling of a specific U.S.-
dollar denominated debt. The rating does not indicate that the
overall sovereign risk has deteriorated to a degree that it
impinges upon the ability of BNI to fulfill the bank's own
foreign currency debt obligation.

The rating agency on Tuesday lowered the foreign currency
rating to "Selective Default" from "Triple C+".

The outlook for BNI ratings remains negative, the agency said.