Fitch assigns Indonesia’s Bank Sulutgo’s national ratings at A(idn)

Fitch Ratings affirmed on Tuesday Indonesia PT Bank Pembangunan Daerah Sulawesi Utara Gorontalo’s (Bank Sulutgo) National Long-Term Rating at ‘A(idn)’, with a Stable Outlook.

Additionally, the National Short-Term Rating has been affirmed at ‘F1+(idn)’, and the rating on the senior secured debt remains at ‘A(idn)’.

An ‘A’ National Long-Term Rating indicates a low level of default risk relative to other issuers or obligations within Indonesia. Similarly, an ‘F1’ National Short-Term Rating signifies the strongest capacity for timely payment of financial commitments.

Fitch has withdrawn the senior unsecured debt level rating for Bank Sulutgo due to the bank’s lack of issuance from this debt class.

Attribution: Fitch Ratings report

Attribution: CBE data