Fitch rates Indonesia bond BB-

Fitch Ratings said it assigned an expected long-term foreign-currency rating of BB- to the Republic of Indonesia's forthcoming benchmark dollar-denominated global bond. This rating is contingent upon receipt of final documents conforming to information already received.

Fitch said it recently placed the foreign- and local-currency issuer default ratings of Indonesia, which are both BB-, on positive outlook. The agency said there is stronger policy intent to tackle key structural reform issues, namely deep-seated corruption, as well as bureaucratic and regulatory hindrances to investment activity.

Fitch added that accelerated efforts to attract foreign direct investment and to increase export competitiveness can help to improve Indonesia's credit risk profile.

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