S&P boosts Indonesia outlook to positive

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

At the same time, S&P said it affirmed its foreign currency ratings at B+/B and local currency rating at BB/B.

The agency added the outlook revision takes into account the significant adjustments in fiscal and monetary policy stance of the past five months, which restored currency stability and relieved pressures on external and fiscal balances that had threatened macroeconomic stability.

The ratings are supported at the current level by improved political and policy climate, continuous progress in macroeconomic stability, steadfast fiscal management, declining debt and debt-servicing burden and a favorable external liquidity position, S&P noted.

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