Upgraded again

Moodys Up-grades Indonesias Sovereign Debt Rating

Moodys Investors Service said Monday it up-graded Indonesian governments foreign, and local-currency bond ratings to B-a1, from B-a2, with stable outlook.

Moodys said in a statement that its main reasons for the move were the countrys economic resilience, accompanied by sustained macro-economic balance; improvement in the governments debt position and the central banks foreign-currency reserve adequacy; and improving prospects for foreign direct investment inflows.

We have upgraded the sovereign credit ratings, as the momentum in the economy is expected to be sustained by steady domestic demand, a reasonable pace and sequencing of policy and structural reforms, and rising foreign direct investment, Aninda Mitra, Moodys lead sovereign analyst for Indonesia, said in a statement.

The up-grade affects the countrys ceiling for foreign currency bonds, which was raised by a notch to Baa3, and the foreign-currency bank-deposit ceiling, which was raised to B-a2.Paul A. Ebeling, Jnr. www.livetradingnews.com


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