IslamicFinance.de

Fitch Ratings Indonesia has assigned a National Long-Term Rating of 'A(idn)' to PT Bank Pembangunan Daerah Jambi's proposed Sukuk issuance. The proposed issuance is the bank's first sukuk with a total amount of IDR 120 billion and a maturity of three years from the issuance date. 'A' National Ratings denote expectations of low default risk relative to other issuers or obligations in the same country. Bank Jambi's rating reflects Fitch's view that the bank is important to the regional government of Jambi province on Sumatra island. Bank Jambi is owned by the government of Jambi province and by the governments of various municipalities. Although Bank Jambi is a small bank in the Indonesian banking industry, it has a strong franchise and has an important role in supporting development in the region.