S&P lifts Indonesia view to positive

Standard & Poor’s said it revised the outlook on the long-term sovereign credit ratings on Republic of Indonesia to positive from stable.

The agency also said it affirmed the country’s BB+ long-term and B short-term sovereign credit ratings and axBBB+/axA-2 Asean regional rating.

The outlook revision reflects a view of Indonesia’s improved policy credibility stemming from initiatives to bolster monetary and financial sector management, as well as economic performance, S&P said.

The agency said it expects these actions to improve Indonesia’s growth prospects and external resilience.

The ratings on Indonesia balance the country’s low per capita income and developing policy and institutional settings against the improved credibility of its monetary policy, buoyant economic growth and sound public finances, S&P said.

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