Moody's rates Indonesia bond Ba3

Moody's said it assigned a foreign-currency rating of Ba3 with a stable outlook to the Republic of Indonesia's forthcoming benchmark dollar-denominated global bond.

Its local- and foreign-currency bond ratings were upgraded to Ba3 from B1 in October 2007.

The agency said that a track record of fiscal prudence and a more resilient external position, coupled with structural reforms and improved policy management, has bolstered the government's credit fundamentals.

Moody's said it expects political stability through upcoming elections, which should help to underpin a generally orthodox and pro-reform economic policy stance.

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