Fitch gives Indonesia notes BBB

Fitch Ratings said it assigned Indonesia's dollar-denominated bonds a BBB rating.

The BBB rating is in line with Indonesia’s long-term issuer default rating, which was affirmed on June 28, Fitch said.

The proceeds are intended for the repurchase of certain outstanding global bonds pursuant to a switch tender offer, and for general budgetary purposes.

The government plans to invest an equal amount to one of the issued bonds on projects related to meeting Indonesia's sustainable development goals.

The outlook is stable.

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