Fitch: Indonesia positive

Fitch Ratings said it raised the outlook on Indonesia's sovereign ratings to positive from stable to reflect diminished political uncertainty following the satisfactory conclusion of presidential elections and the improved outlook for reform.

"The completion of a six-month cycle of free and fair elections marks a major step forward for Indonesia, while Susilo Bambang Yudhoyono's landslide victory amounts to a very strong mandate for reform," said Fitch's Paul Rawkins.

Fitch said both the currency and the stock market have rallied strongly in anticipation of a second wave of reforms aimed at addressing many of the ills that continue to afflict the economy.

"The key to future ratings upgrades lies in the formulation and implementation of a strong reform agenda," Rawkins said.

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