Moody's ups Indonesia

Moody's Investors Service said it has upgraded Indonesia's ratings in light of substantial and steady improvement in government finance, with a sound record of fiscal management built up over the past several years.

Specifically, the foreign currency country ceiling for bonds and the foreign- and domestic-currency government bond ratings were upgraded to B1 from B2, the agency said.

The foreign currency country ceiling for bank deposits was upgraded to B2 from B3, while the local currency bank deposit ceiling and the local currency guideline remain unchanged at Baa2.

The outlook is stable.

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