S&P affirms Indonesia

Standard & Poor's said it affirmed its long-term foreign currency rating on the Republic of Indonesia at BB- and its long-term local currency rating of BB+.

The short-term rating of B was also affirmed, the agency said.

The outlook on the long-term ratings is stable.

According to S&P, the ratings on Indonesia are underpinned by continued improvements in its debt and external liquidity positions.

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