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National Long-Term Rating at 'AA(idn)', its National Short-Term Rating at 'F1+(idn)' and the rating on its senior bonds at 'AA(idn)'. The Outlook is Stable.
'AA' National Long-Term Ratings denote expectations of a very low level of default risk relative to other issuers or obligations in the same country or monetary union. The default risk inherent differs only slightly from that of the country's highest-rated issuers or obligations.
'F1' National Short-Term Ratings indicate the strongest capacity for timely payment of financial commitments relative to other issuers or obligations in the same country. Under the agency's National Rating scale, this rating is assigned to the lowest default risk relative to others in the same country or monetary union. Where the liquidity profile is particularly strong, a "+" is added to the assigned rating.
NATIONAL RATINGS
JACCS MPM Finance Indonesia's ratings are support-driven, based on Fitch's expectation of a moderate likelihood of extraordinary support from its parent, JACCS Co. Ltd. (JACCS), in times of need. JACCS holds 60% of the Indonesian finance company and is in turn 21.9%-owned by Mitsubishi UFJ Financial Group, Inc. (MUFG, A-/Stable/a-). Fitch believes JACCS will have some incentive to support its subsidiary in times of need due to the parent's long-term plans to expand its business in ASEAN, with Indonesia being its largest overseas investment to date.
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Other Information
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PT JACCS Mitra Pinasthika Mustika Finance Indonesia
Gedung Lippo Kuningan Lantai 25,
Jalan H.R. Rasuna Said Kav B-12 Karet Kuningan Kota Jakarta Selatan, DKI Jakarta 12940 |
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JACCS MPM Finance Indonesia is Authorized and Supervised by Otoritas Jasa Keuangan
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