SINGAPORE (Standard&Poor's) Nov. 7, 2003--Standard&Poor's Ratings Services said today it raised the long-term local currency counterparty credit rating on PT Bank Mandiri (Persero) and PT Bank Danamon Indonesia Tbk to 'B+' from 'B'. The outlooks on these ratings are stable. In addition, the issue rating on Bank Mandiri's US$125 million subordinated debt due 2012 was raised to 'B-' from 'CCC+'. At the same time, the long-term foreign currency and short-term local and foreign currency counterparty credit ratings on both banks were affirmed at 'B' and 'B'. The outlooks on the long-term foreign currency ratings remain stable. Moreover, the 'B' issue ratings on Bank Mandiri's US$300 million senior unsecured note due 2008 and its US$125 million floating
