Moody’s: Indonesia bond Baa3

Moody’s Investors Service said it assigned a provisional rating of Baa3 to the government of Indonesia’s announced bond offering under its global medium-term note program.

The outlook is stable.

The rating is supported by the country’s narrow fiscal deficits, low public indebtedness, large size of the Indonesian economy and healthy GDP growth prospects, Moody’s said.

Credit challenges include institutional weaknesses, reflected in Indonesia’s scores on the World Bank’s governance indicators, the agency said.

Moody’s said it expects Indonesia’s low level of government debt and relatively narrow fiscal deficits to be maintained against the backdrop of slowing, but still healthy, economic growth.

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