R

ating agency Moody's Investors Service has upgraded its ratings of five national banks, reflecting the growing quality of their credit rates and financial strength.

As reported by Kompas.com, the banks that received the upgrades from Moody's were Bank Central Asia (BCA), Bank Rakyat Indonesia (BRI), Bank Mandiri, Bank Negara Indonesia (BNI) and Bank Permata.

BCA's rating went up by one level to ba1. Moody's considered BCA deserved the upgrade because the bank had maintained its excellent financial performance, solid profile and high level of profits, and had managed to expand its services to a broader market.

BRI's rate climbed up to baa3 from its previous ba1. Moody's said BRI had improved its asset quality and expanded its credit disbursement toward small and medium scale enterprises allowing the bank to achieve higher profit margins.

Bank Mandiri's rating went up to ba1 from ba2. The upgrade, according to Moody's, reflects the bank's ability to maintain its financial performance, expand its services and obtain sufficient financing while
at the same time increasing its profits.

Bank Permata's rating was upgraded to ba2 from ba3 because of its asset improvement.

Moody's did not raise BNI's rating from ba2 but the outlook for its financial strength increased from stable to positive, according to Moody's.