Mandiri's asset quality has consistently improved over the past two years as the bank has recognized and provided for most of its problem loans. We believe the Indonesia-based bank's asset quality metrics will come closer to the industry average if the improving trend sustains over the next 12-18 months. We are revising the rating outlook on Mandiri to positive from stable. At the same time, we are affirming our 'BB+/B' ratings on the bank. On April 4, 2019, S&P Global Ratings revised its outlook on PT Bank Mandiri (Persero) to positive from stable. At the same time, we affirmed our 'BB+' long-term and 'B' short-term issuer credit ratings on the Indonesian bank. We revised the outlook because we expect Mandiri's
