Moody's assigns Indonesia bonds Baa2

Moody's Investors Service said it assigned Baa2 ratings to the senior unsecured yen-denominated bonds issued under the government of Indonesia's ¥ 600 billion samurai shelf program. The drawdowns have maturities ranging from three-20 years.

“The ratings mirror the government of Indonesia's long-term issuer rating of Baa2 with a stable outlook,” the agency said in a press release.

The proceeds of the bonds are intended to finance the budget deficit and for general purposes, including to partially fund its coronavirus-related relief and recovery efforts.

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