Moody's: Indonesia view to positive

Moody's Investors Service said it changed the outlook on Indonesia's Ba2 local- and foreign-currency sovereign ratings to positive from stable. The improvement in the outlook also applies to Indonesia's Ba1 foreign currency bond ceiling and Ba3 foreign currency deposit ceiling.

The positive outlook broadly reflects the country's capacity for sustained strong growth, the overall stability and effectiveness of its fiscal and monetary policies and expectations of further improvements in the government's financial and debt position, the agency said.

The core of Indonesia's growth story is driven by a large domestic market that is appropriately managed by a well-tested economic policy framework, Moody's said.

A series of external disturbances, culminating in instability in several European sovereign debt markets, have had no serious implications on Indonesia's credit fundamental, which remain on an improving trend, the agency said.

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