and-now-for-more-ratings-news-on-indonesia

And now for more ratings news on Indonesia

Moody's acquires a 99% stake in Kasnic Credit Rating Indonesia.
Moody's Corporation has bought a 99% stake in PT Kasnic Credit Rating Indonesia. The name of the firm will be changed to PT Moody's Indonesia and will operate as Moody's Indonesia. Moody's will have an option to acquire the remaining 1% subject to compliance with Indonesian law.

Terms and conditions of the transaction were not disclosed but the agency said that the financial impact on Moody's Corporation is not material.

Indonesia is Southeast Asia's largest economy and is growing rapidly. Demand for Moody's rating services in the country should grow substantially in the coming years as capital investment increases and its domestic capital market develops, says Raymond McDaniel Jr, chairman and chief executive officer...
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