S&P Lowers Ratings on Bank BNI AND BII; On Watch-Neg.MELBOURNE, Australia--(BUSINESS WIRE)--Standard & Poor's Creditwire 1/9/98--Standard & Poor's today lowered its long-term foreign currency ratings on P.T. Bank Negara Indonesia Bank Negara Indonesia, commonly known known as BNI, is an Indonesian bank. It has branches primarily in Indonesia, but also in Singapore,Hong Kong,London, and New York. It has 1000 branches and 9 million customers. (PERSERO) (BANK BNI BNI Business Network International BNI Business Networking International BNI Bank Negara Indonesia BNI Bechtel National, Inc. BNI British Nursing Index BNI Barrow Neurological Institute (Phoenix, AZ) ) and P.T. Bank Internasional Indonesia (BII BII Bank Internasional Indonesia BII British Institute of Innkeepers BII Bioindustry Initiative (US Department of State) BII Bronco II (Ford truck; predecessor of the Explorer) BII Basic Issue Item ) to Double-'B' from Double-'B'-Plus (see list below). The local currency ratings on both banks are affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. . All ratings remain on CreditWatch with negative implications, where they were placed on Dec. 15, 1997. The CreditWatch placements are expected to be resolved this month. The actions follow today's downgrade Downgrade A negative change in the rating of a security. Notes: For example, an analyst may downgrade a stock from strong buy to buy, or a bond rating agency may downgrade a bond from AAA to AA. of the Republic of Indonesia's sovereign ratings (see related news release on Republic of Indonesia), Standard & Poor's said. -- CreditWire -0- RATINGS LOWERED TO FROM Bank Internasional Indonesia (P.T.) Counterparty ratings Foreign currency BB/Watch-Neg/B BB+/Watch-Neg/B Bank Negara Indonesia (P.T.) Counterparty ratings Foreign currency BB/Watch-Neg/B BB+/Watch-Neg/B US$145 mil. snr nts BB/Watch-Neg/B BB+/Watch-Neg/B RATINGS AFFIRMED Bank Internasional Indonesia (P.T.) Counterparty ratings Local currency BB+/Watch-Neg/B Bank Negara Indonesia (P.T.) Counterparty ratings Local currency BBB/Watch-Neg/A-3 CONTACT: Terry Chan, Singapore (65) 239-6360 Ernest D Napier, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of (1) 212-208-1556 For more information on criteria or subscriptions: http://www.ratings.standardpoor.com |
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