After many months of expectation, one of the big three credit rating agencies has finally decided that Indonesia is worthy of an investment-grade rating.
Yesterday, Fitch Ratings beat its rivals, Moody’s Investor Services and Standard Poor’s, by upgrading Indonesia’s sovereign debt rating to BBB-. The decision was not unexpected analysts and investors looking for the next big opportunity after the Bric countries of Brazil, Russia, India and China have long anticipated Indonesia’s return to credit market respectability.
The country lost its investment grade status in 1997 in the wake of the Asian financial crisis, but has recently made progress in putting its economy back...
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