January 08, 2008 | Cbonds
|Fitch Ratings has today assigned an expected Long-term foreign currency rating of 'BB-' (BB minus) to the Republic of Indonesia's forthcoming benchmark US dollar-denominated Global Bond. The final rating is contingent upon receipt of final documents conforming to information already received.|
Fitch placed Indonesia's foreign and local currency Issuer Default ratings, which are both 'BB-' (BB minus), on Positive Outlook in January 2007. The agency notes that Indonesia's economic growth momentum will only be marginally impacted by weakness in external demand, as domestic demand has recovered. The country's structural reform agenda on both the public and external finances front remains intact, which in turn will help to improve Indonesia's credit risk profile going forward.