BRI's rating upgraded

BRI's rating upgraded

HONG KONG (Reuter): Thomson BankWatch has assigned a senior debt rating of BB+ and an inter-country issuer rating of IC-B/C to Bank Rakyat Indonesia (BRI).

The ratings reflect the bank's high creditworthiness in spite of the weakness in the quality of its loan portfolio, the rating agency said.

The Indonesian government is squarely behind BRI, and the bank's management has shown determination in its efforts to solve BRI's problems, BankWatch added.

The debt rating assesses the bank's ability to repay its obligations, whereas the inter-country issuer rating is a broader overall measure of the bank's quality, BankWatch said.