Yet, Bank Aceh's weak asset quality and low liquidity indicators are limiting rating factors, PEFINDO
In addition, PEFINDO
gave idAA+ ratings to Perum Pegadaian's proposed Bonds I/PUB/2011 and MTN I/2011, capped at IDR2trn (USD223.2m/EUR163.6m) and IDR1trn, respectively, as well as an idAA+(sy) rating to its proposed MTN Ijarah I/2011 of up to IDR500bn.
BFI Finance will be able to service the upcoming maturity using internal cash and time deposit placements in banks, PEFINDO
"The rating reflects strong and proven support from the Government of Indonesia (GOI) as the controlling shareholder, strong business position, and sound capitalisation," PEFINDO
On the negative side, the rating reflects also the intense competition and volatile nature of the capital market, PEFINDO
According the PEFINDO
, the firm has sufficient funds to pay off the maturing bonds.
also acknowledges the strong support from ANZ Banking Group as one of the Bank's shareholders.
However, the ratings are constrained by relatively-high cost of fund and tightening competition in micro and auto financing business," PEFINDO
Bumi Serpong Damai has placed the money earmarked for paying off the maturing debt in time deposits, PEFINDO
However, the below-average asset quality and moderate business growth are rating constraints, PEFINDO
However, the rating is constrained by worsened asset quality," PEFINDO
Yet, its comparatively high commission expense and low underwriting cash flow are limiting factors, PEFINDO