Indonesia upgraded by Moody's

Indonesia's sovereign credit rating is raised to Ba1, one notch below investment grade, by Moody's Investors Service.

Indonesia continues to garner international approval. Yesterday, Moody’s Investors Service upgraded the country’s sovereign credit rating by one notch to Ba1 and assigned it a stable outlook.

Moody’s pointed to Indonesia’s continued economic resilience, stronger macroeconomic balance, and improved public debt position and central bank currency reserve adequacy.

The agency also believes that the prospects for foreign direct investment inflows are improving, which “is expected to fortify Indonesia's external position and economic outlook”.

Moody’s initiated its recent review on December 1, 2010. The decision means that the rating by Moody's is one level higher than that assigned by Standard and Poor’s, but the same as the BB awarded by Fitch Ratings a year ago....

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