Permata's rating raised by Moody's

Permata's rating raised by Moody's

JAKARTA: PT Bank Permata, Indonesia's seventh- largest lender,
had its bank financial strength rating raised by one level by
Moody's Investors Service, which cited the reputation of the
bank's shareholders.

The Jakarta-based lender's financial strength rating was
raised to E+, its fourth-lowest rating, from E, with a positive
outlook, Moody's said today in an e-mailed statement.

"Moody's believes that Permata faces brighter prospects under
the ownership of its new shareholder," it said in the statement.
"Given the reputation of its shareholder consortium, Standard
Chartered Bank and PT Astra International, any support - -
financial and technical -- should be strong," it said.

Standard Chartered Plc, a U.K. bank that makes two-thirds of
its profit in Asia, and Indonesian auto distributor Astra
International control the Indonesian lender. The B3 rating on
Permata's long-term deposits was maintained by Moody's. --
Bloomberg