Indonesia debt official hopes for S&P upgrade

Loto Srinaita Gintang, director of government debt securities at Indonesia’s finance ministry, expresses hopes that S&P will soon upgrade the sovereign’s rating.

Indonesia debt official hopes for S&P upgrade
Bullish on Indonesia? A sculpture at the Jakarta stock exchange

Indonesia has long been a focus for foreign investors, having come a long way since its wrenching experience during the Asian financial crisis. Recently, it has burnished its status as a borrower and transformed from basket case to market darling, prompting FinanceAsia to name Indonesia its borrower of the year for 2011.

Investors may clamour for its paper, but the country still falls short of full investment-grade status. Both Moody’s and Fitch have upgraded...

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