Moody's: Indonesia bond Baa3

Moody's Investors Service said it assigned a provisional Baa3 rating to the Government of Indonesia's forthcoming dollar-denominated bond issuance due in 2022.

The Baa3 rating of the bond maturing in 2042 remains unchanged following the announcement of a tap bond offering on this issuance.

Moody's said the key drivers for the decision were: (a) Moody's anticipation that government financial metrics will remain in line with Baa peers; (b) the demonstrated resilience of Indonesia's economic growth to large external shocks; (c) the presence of policy buffers and tools that address financial vulnerabilities; and (d) a healthier banking system capable of withstanding stress.

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