Fitch upgrades Indonesia

Fitch Ratings said it upgraded Indonesia's long-term foreign- and local-currency issuer default ratings to BBB- from BB+.

The outlook is stable.

The country ceiling was raised to BBB, along with and the short-term foreign-currency issuer default rating was upgraded to F3.

The upgrades reflect the country's strong and resilient economic growth, low and declining public debt ratios, strengthened external liquidity and a prudent overall macro policy framework, Fitch said.

Fitch said it projects GDP growth to average more than 6% per year over the forecast period to 2013, despite a less conducive global economic backdrop.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.