Moody's may up Indonesia

Moody's Investors Service said it placed on review for upgrade the Indonesian government's Ba2 foreign-and local-currency bond ratings, along with its Ba1 country ceiling for foreign-currency bonds and Ba3 ceiling for foreign-currency bank deposits. The country ceiling for short-term foreign-currency debt is not-prime and remains unaffected by this action.

The review was due to Indonesia's economic resilience and sustained macroeconomic balance, along with the government's debt position and the central bank's foreign-currency reserve adequacy, Moody's said.

Its economic policy framework remains increasingly well positioned to deal with evolving macroeconomic challenges and potential shocks, the agency said.

These ceilings act as a cap on ratings that can be assigned to the foreign currency obligations of other entities domiciled in the country.

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