Moody's ups outlooks on 3 banks

Moody's ups outlooks on 3 banks

JAKARTA: Moody's Investors Service has upgraded the ratings outlooks for the Caa1 long-term bank deposit ratings of three Indonesian banks from stable to positive, it announced Monday.

The three banks are Bank Danamon Indonesia, Bank Rakyat Indonesia and Pan Indonesia Bank, the ratings agency said in a press release.

The financial strength ratings of all three were unaffected, it added.

The move reflected the change in outlook for Indonesia's B3 foreign currency country ceiling for bonds, and Caa1 foreign currency ceiling for bank deposits, from stable to positive on April 25, Moody's said.

All Indonesian banks rated by Moody's, except for Bank Internasional Indonesia, now carry positive ratings outlooks.

Moody's said it was considering downgrading Bank International Indonesia's ratings. -- AFP