Moody’s rates Indonesia bonds Baa2

Moody’s Investors Service said it assigned Baa2 senior unsecured ratings to drawdowns under the government of Indonesia’s samurai shelf program. The drawdowns of the yen-denominated notes have maturities ranging from three to 10 years. The agency also rated the ¥600 billion program (P) Baa2.

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

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

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