Moody's rates Indonesia bond Baa3

Moody's Investors Service said it assigned a provisional rating of Baa3 rating to the Government of Indonesia's announced bond offering on its existing U.S. dollar-denominated global medium-term note program.

The outlook is stable.

Moody's said Indonesia's Baa3 sovereign issuer rating incorporates a moderate assessment of the country's overall economic strength that balances robust growth performance against relatively low GDP per capita.

While real GDP growth came in above 6% for the third consecutive year in 2012, rising inflation, policy tightening, and lower prices for Indonesia's commodity exports could weigh on economic growth in 2013. Nevertheless, trend growth is likely to be maintained above those of similarly rated countries over the medium term, the agency said.

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