Moody’s rates Indonesia program Baa3

Moody's Investors Service said that the provisional rating on the Government of Indonesia's global medium-term note program is provisional Baa3.

The program was enlarged to $40 billion from $30 billion.

The outlook on the Baa3 issuer rating is stable.

Indonesia's Baa3 government bond rating is supported by comparatively narrow fiscal deficits, low public indebtedness, the large size of the Indonesian economy and its healthy medium-term GDP growth prospects. Credit challenges include institutional weaknesses, reflected in Indonesia's scores on the World Bank's Worldwide Governance Indicators.

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