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Indonesia Wins Second Rating Upgrade, Aiding Investment

Indonesia won its second credit rating upgrade in five weeks as Moody’s Investors Service returned the country to investment level for the first time since the Asian financial crisis.

The foreign- and local-currency rating was increased to Baa3 from Ba1, Moody’s said in a statement yesterday. The outlook is stable. The upgrade brings Southeast Asia’s largest economy to the lowest investment grade, the same level as India, according to data compiled by Bloomberg.