Fitch rates Indonesia bonds BBB-

Fitch Ratings said it assigned Indonesia's upcoming dollar-denominated global bonds an expected BBB-(EXP) rating.

The rating is in line with Indonesia's long-term foreign currency issuer default rating of BBB-. The sovereign's long-term local currency issuer default rating is also BBB-.

The outlooks are stable.

Fitch said the ratings reflect Indonesia's strong and resilient economic growth, supported by high investment and savings rates and low and declining public debt ratios. Pressure on the external finances, a credit weakness, has resulted in some strain on the credit profile, but these are not yet seen as being inconsistent with a BBB- rating.

The ratings incorporate Fitch's expectation that policy will be managed in such a way as to prevent economic overheating, the agency said.

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