S&P rates Indonesia notes BBB

S&P said it assigned a BBB long-term foreign-currency rating to the planned benchmark-sized U.S. dollar-denominated senior unsecured notes to be issued by Indonesia.

The agency affirmed Indonesia’s BBB foreign-currency rating on April 22.

The Indonesian government will issue the notes as part of a liability management exercise. Concurrently, Indonesia has announced a cash tender offer on U.S. dollar-denominated global bonds due 2023-2027.

The outlook is stable.

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