PRESS RELEASE:S&P Places Bank Internasional Indonesia Rtg On Watch Pos
The following is a press release from Standard & Poor's:
SINGAPORE (Standard & Poor's) March 28, 2008--Standard & Poor'sRatings Services
today placed all its ratings on PT Bank InternasionalIndonesia Tbk (BII),
including its 'B+' long-term and 'B' short-termcounterparty credit ratings, on
CreditWatch with positive implications.This comes after the announcement that
Malaysia's Malayan Banking Bhd.(Maybank, A-/Positive/A-2) is to acquire a
controlling stake of 56% inBII for US$1.5 billion and would launch a tender
offer for theremaining 44% for about US$1.2 billion.
This action impliesthat there is at least a 50% chance of the ratings on BII
being raisedwithin 90 days in the likely event that Maybank assumes
substantialownership and management control of BII. Standard & Poor's
expectsBII to become a significant entity of the Maybank Group as Indonesiawill
become Maybank's second-largest overseas presence, afterSingapore. We will
continue to monitor the situation closely and havediscussions with Maybank.
Standard & Poor's expects to resolve thisCreditWatch within 90 days.
Complete ratings information isavailable to subscribers of RatingsDirect, the
real-time Web-basedsource for Standard & Poor's credit ratings, research, and
riskanalysis, at www.ratingsdirect.com. All ratings affected by this
ratingaction can be found on Standard & Poor's public Web site
atwww.standardandpoors.com; select your preferred country or region,
thenRatings in the left navigation bar, followed by Credit Ratings Search.
Primary Credit Analyst: Ivy Tan, Singapore (65) 6239-6393;
[EMAIL PROTECTED] Secondary Credit Analyst: Ritesh Maheshwari,
Singapore (65) 6239-6308;
[EMAIL PROTECTED]
Analytic services provided by Standard & Poor's Ratings Services ("Ratings
Services ") are the result of separate activities designed topreserve the
independence and objectivity of ratings opinions. Thecredit ratings and
observations contained herein are solely statementsof opinion and not
statements of fact or recommendations to purchase,hold, or sell any securities
or make any other investment decisions.Accordingly, any user of the information
contained herein should notrely on any credit rating or other opinion contained
herein in makingany investment decision. Ratings are based on information
received byRatings Services. Other divisions of Standard & Poor's may
haveinformation that is not available to Ratings Services. Standard &Poor's has
established policies and procedures to maintain theconfidentiality of
non-public information received during the ratingsprocess.
Ratings Services receives compensation for itsratings. Such compensation is
normally paid either by the issuers ofsuch securities or third parties
participating in marketing thesecurities. While Standard & Poor's reserves the
right todisseminate the rating, it receives no payment for doing so, except
forsubscriptions to its publications. Additional information about ourratings
fees is available at www.standardandpoors.com/usratingsfees.
Copyright (c) 2008, Standard & Poor's Ratings Services
(END) Dow Jones Newswires
March 28, 2008 00:32 ET (04:32 GMT)- - 12 32 AM EDT 03-28-08
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