Moody's rates Indonesia bonds Baa3

Moody's Investors Service said it assigned definitive ratings of Baa3 to the Government of Indonesia's bond offerings with scheduled maturity dates in 2024 and 2044.

The outlook is stable.

The definitive ratings for these debt obligations confirm the provisional ratings assigned on Jan. 7. The rating rationale was set out in a press release published on the same day.

Moody's said Indonesia's Baa3 government bond rating is supported by healthy economic prospects, structurally narrow fiscal deficits and low public indebtedness. The country's very large scale and ample natural resource endowment also buttress the rating, although GDP per capita is still low amongst investment grade countries.

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