CHANGES IN PT HINO FINANCE INDONESIA'S ANNUAL RANKING RESULTS FOR THE PERIOD 2024-2025
Jakarta - 23 September 2024: Fitch Ratings Indonesia ("Fitch") has downgraded PT Hino Finance Indonesia's (HFI) National Long-Term Rating and the local-currency issuance ratings to 'AA+(idn)', from 'AAA(idn)', and maintained the Rating Watch Negative (RWN). The downgrade is driven by Fitch's view of downward pressure on the credit profile of HFI's 40% shareholder, Hino Motors Co., Ltd., which reduces the level of shareholder support factored into HFI's rating.
Key rating drivers and detailed information can be seen in the information release issued by Fitch.
https://www.fitchratings.com/research/non-bank-financial-institutions/fitch-downgrades-hino-finance-indonesia-to-aa-idn-maintains-rating-watch-negative-23-09-2024