Fitch Ratings on Oct. 20 said it raised PT Bank Bukopin Tbk's national long-term rating to AAA(idn) from AA-(idn) and removed it from Rating Watch Positive following KB Kookmin Bank's acquisition of a majority stake in the Indonesian lender.

The outlook is stable.

The rating agency said the action also reflects its view that KB Kookmin Bank's stronger control of Bank Bukopin results in its greater propensity to support it. In September, the South Korean bank increased additional Bank Bukopin shares to boost its stake in the bank to 67.0%.

Bank Bukopin's rating is linked to its parent's viability rating as it is uncertain whether extraordinary support, if required, would flow from the South Korean government through KB Kookmin Bank to the Indonesian lender. Fitch said potential support would most likely be dependent on KB Kookmin Bank's own financial resources.