An improvement in Indonesia's operating environment and the sovereign upgrade has strengthened the credit profiles of Indonesian banks. We expect higher support for Bank Mandiri and CIMB Niaga from the government and the CIMB group, respectively. We raised the long-term counterparty credit ratings on Bank Mandiri, CIMB Niaga, and Danamon by one notch each. We also affirmed the short-term ratings on all the banks. The outlooks on Bank Mandiri and CIMB Niaga are positive; the outlook on Danamon is stable. MUMBAI (Standard&Poor's) April 21, 2011--Standard&Poor's Ratings Services said today that it had taken the following rating actions on three Indonesian banks: To From PT Bank Mandiri (Persero) Counterparty credit rating BB+/Positive/B BB/Stable/B PT Bank CIMB Niaga
