Indonesia Investment Grade Rating Looms as Fitch Raises Outlook
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Indonesia moved closer to attaining an investment grade rating, its first since the Asian financial crisis more than a decade ago, after Fitch Ratings raised its outlook on the sovereign to positive from stable.
The company affirmed its BB+ grade on Indonesia’s local and foreign-currency debt, one step below investment grade, it said in a statement yesterday. An upgrade will put Indonesia on par with India and Brazil.