Moody's: Indonesia bonds at Ba1

Moody's Investors Service said it will assign a Ba1 rating with a stable outlook to the upcoming global bond issuance of Indonesia, which is a drawdown from the existing $9 billion global medium-term note program.

The sovereign rating is supported by Indonesia's large size and middle-income economy, which has been resilient against the global recession and is showing increasing dynamism, Moody's said.

The stable outlook balances the prospects for further gradual improvements in sovereign credit metrics against ongoing shifts in the financial system supervisory framework, finalization of the proposed government bond stabilization framework and the pending land acquisition bill, which could potentially reduce impediments to faster infrastructure development, the agency said.

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