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Moody's: Indonesia sukuk Ba1
Moody's Investors Service said it assigned a provisional rating of Ba1 to the securities under the Government of Indonesia's proposed dollar-denominated sovereign sukuk.
The payment obligations represented by the securities available on offer are ranked pari passu with other senior, unsecured debt issuances of the Government of Indonesia and thus justify a rating at an equal level, the agency said.
Indonesia's sovereign rating has been supported by increasingly robust domestic demand over the past few years, which has helped to shield the economy from the global financial crisis, Moody's said.
In the ensuing recovery, the pickup in commodity prices has further bolstered to the economic outlook, the agency added.
Overall, growth looks to be sustainable and has not been accompanied by significant overheating pressures, Moody's said.
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