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Friday, November 26, 2010

BCA Finance issue IDR200 bio MTN

BI / exchange
4/11/2010
Irvin Avriano A.

BCA Finance issue IDR200 bio MTN

JAKARTA: PT BCA Finance will issue medium-term notes (MTN) worth IDR200 billion that will be tenured 370-380 days in a near days.

This was revealed in the research of PT Fitch Ratings Indonesia today which shows the ratings of debt securities issuance plan was set at the level of AA+(idn). The rating agency were also set short-term national rating of the company at the level of F1+(idn).

"The rating is equated with BCA Finance long-term national ratings," said Fitch Main Analyst Julita Wikana in the research.

She said the final ratings of the debt securities is still awaiting the final document which will complete the information that already received by the rating agency.

The rating action, she said, reflects the strong relationship that company with its parent, PT Bank Central Asia Tbk (BCA). Support from one of biggest private bank is reflected from a similar name and the provision, also continuity of its good operations by both companies.

BCA Finance was established in 1981, one of the largest finance company in the country, with its focus on automobile financing. The company's business is supported by the BCA, the third largest private bank in Indonesia.

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