SINGAPORE (Standard&Poor's) May 13, 2004--Standard&Poor's Ratings Services today revised its outlook on the foreign and local currency long-term counterparty credit ratings on Indonesia's PT Bank Mandiri Persero (Mandiri) and PT Bank Danamon Indonesia Tbk. (Danamon) to positive from stable. At the same time, Standard&Poor's affirmed its foreign and local currency counterparty credit ratings at 'B/B' and 'B+/B', respectively, on the banks. The outlook revision on Mandiri and Danamon reflects expectations that the improvements in the banks' financial profile, as characterized by better operating profitability and capitalization is sustainable, in an improved operating environment attributed to the continued progress in Indonesia's macroeconomic stability. "While the banks' financial risks have improved with higher profitability, asset quality
