Hong Kong: Moody’s Investors Service raised Indonesia’s sovereign rating to Ba2 from Ba3, praising the country’s economic resilience and its upbeat growth prospects.
The outlook on the rating is stable and the rating is now two notches below investment grade.
Moody’s analyst Aninda Mitra said Indonesia’s economy could weather the global uncertainties better than other sovereigns in the Ba-rating category and compared with its regional peers.
He said management of Southeast Asia’s largest economy was improving and the appropriate policy stance was expected to persist in the foreseeable future.
“These developments highlight the growing credibility and predictability of government policies, and are expected to ensure macro-economic stability,” he said