January 08, 2008 | Cbonds
|Moody's has assigned a Foreign Currency rating of 'Ba3' with a stable outlook to the Republic of Indonesia's forthcoming benchmark US dollar-denominated Global Bond. |
Moody's upgraded the local- and foreign-currency bond ratings of Indonesia to Ba3 from B1 in October 2007. The agency noted that a track record of fiscal prudence and a more resilient external position coupled with structural reforms and improved policy management has bolstered the government's credit fundamentals. Moody's also expects political stability through upcoming elections which should help to underpin a generally orthodox and pro-reform economic policy stance.