Moody's rates Indonesia bond Ba3

Moody's Investors Service will assign a Ba3 rating with a stable outlook to the Republic of Indonesia's forthcoming dollar-denominated global bond.

The rating reflects levels of general government debt and total external debt that are relatively high compared to fiscal revenues and current account receipts, Moody's said.

The rating also incorporates weaknesses in Indonesia's legal and regulatory system, the agency said, which heighten business costs and investor uncertainty.

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