S&P elevates Indonesia

S&P said it raised its long-term sovereign credit rating on Indonesia to BBB from BBB-.

The outlook is stable.

S&P also raised its short-term sovereign credit rating to A-2 from A-3.

“Indonesia's economy has consistently outperformed its peers at a similar level of income, and we expect its strong growth prospects to remain over the coming years,” S&P said.

“Given Indonesia's stable policy and prudent fiscal settings, we believe its overall credit profile is enhanced.”

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