S&P lowers Indonesia view to stable

Standard & Poor's said it revised the outlook on its ratings on the Republic of Indonesia to stable from positive.

At the same time, S&P said it affirmed its B+/B foreign currency and BB/B local currency sovereign credit ratings on Indonesia.

S&P noted the outlook revision reflected increasing concern over the apparent inability and unwillingness of the Indonesian authorities to address the underlying structural causes behind the rupiah's recent rapid depreciation.

The ratings on Indonesia are constrained by its high level of public and external debt, S&P added.

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