BNI rating outlooks upgraded

JAKARTA (JP): International rating agency Standard & Poor's upgraded on Tuesday the outlooks on publicly listed Bank Negara Indonesia's foreign currency and local currency counterparty credit ratings to stable from negative.

The rating agency said that the change followed its outlook revision on Indonesia's long-term sovereign rating to stable from negative.

At the same time, Standard & Poor's affirmed its single-'B'- minus long-term local currency counterparty credit rating and senior unsecured debt ratings, its triple-'C'-plus long-term foreign currency counterparty credit rating, and its single-'C' short-term local currency and foreign currency counterparty credit ratings on BNI.

Standard & Poor's said it also affirmed Indonesia's triple-'C'-plus long-term and single-'C' short-term foreign currency ratings, as well as the country's single-'B-minus long- term and single-'C' short-term local currency ratings.