Moody's upgrades ratings of Bank Danamon and Adira Finance; outlooks stable
Rating Action: Moody's upgrades ratings of Bank Danamon and Adira Finance; outlooks stable. Global Credit Research- 14 Dec 2021. Singapore, December 14, 2021-- Moody's Investors Service has today upgraded Bank Danamon Indonesia TBK' s long-term local and foreign currency deposit ratings to Baa1 from Baa2, as well as the bank's Adjusted Baseline Credit Assessment to baa1 from baa2.PT Adira Dinamika Multi Finance is financing company engaged in the business of leasing, factoring, consumer financing and credit card business with focus on consumer financing sector which comprise of motorcycles and cars consumer financing activities.
PT Bank Danamon Indonesia Tbk is a Indonesia-based bank primarily engaged in the provision of retail banking services. The Company's major business activities are classified into three segments: Retail, Midsize and Wholesale. Its Retail segment includes retail banking services, including unsecured personal loans, mortgages, credit card issuance, insurance business, consumer financing and pawnbroking services. Its Midsize segment provides small and medium enterprises with various commercial banking services, including Overdraft Facility, a short term loan facility for working capital purposes with option for annual renewal. Its Wholesale segment focuses on the provision of various corporate banking, financial institution and treasury services, such as cash management, working capital requirement, investment loan, trade finance and financial supply chain.
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