Moody's rates state banks

Moody's rates state banks

HONG KONG (Reuter): Moody's Investors Service said yesterday
it had assigned senior long-term foreign currency bond ratings of
Baa3 and Ba1 ratings to the long-term foreign currency deposit
obligations of six Indonesian state banks.

Short term foreign currency obligations were rated Not Prime.

Moody's also assigned Bank Financial Strength Ratings (BFSR)
ranging from D-plus to E to the six banks, all 100 percent state-
owned institutions.

The banks were: Bank Bumi Daya, Bank Dagang Negara, Bank
Ekspor Import Indonesia, Bank Negara Indonesia, Bank Rakyat
Indonesia and Bank Tabungan Negara.

Indonesia's foreign currency bonds and notes are currently
rated Baa3, long-term bank deposits Ba1, and short-term
obligations Not Prime.

Moody's said the difference between the senior debt and long-
term deposit ratings reflected the "great likelihood that
deposits would be rescheduled in a stress scenario".