Fitch affirms MPM Finance at "A-(idn), outlook stable
Bareksa • 16 Jan 2014
Ratusan mobil diparkir di terminal car port, di kawasan Jakarta Utara (ANTARA FOTO/Fanny Octavianus)
The Stable Outlook reflects Fitch's expectations that MPM will continue to support MPM Finance
IQPlus - Fitch Ratings has affirmed Indonesia-based PT Mitra Pinasthika Mustika Finance's (MPM Finance) National Long-Term Rating at 'A-(idn)'. The Outlook is Stable.
The rating reflects Fitch's expectation that MPM Finance will receive support from its parent, PT Mitra Pinasthika Mustika Tbk (MPM; A(idn)/Stable), in times of need.
The Stable Outlook reflects Fitch's expectations that MPM will continue to support MPM Finance in case of need.
'A' National Ratings denote expectations of low default risk relative to other issuers or obligations in the same country. However, changes in circumstances or economic conditions may affect the capacity for timely repayment to a greater degree than is the case for financial commitments denoted by a higher rated category.
Fitch's view of a high propensity of timely support from MPM is underpinned by MPM Finance's strategic importance to the former's automotive business. This is underlined in MPM's 100% ownership of MPM Finance. MPM Finance has an important role in MPM's automotive business as it provides car financing services