Moody’s rates Indonesia notes Baa2

Moody’s Investors Service said it assigned Baa2 ratings to the proposed senior unsecured dollar- and euro-denominated notes to be issued by the government of Indonesia. The planned notes have maturities ranging from 10-30 years for the dollar-denominated notes and up to seven years for the euro-denominated notes.

According to the terms and conditions available to Moody’s, the notes to be issued under the government’s $10 billion shelf program filed with the U.S. Securities and Exchange Commission, will constitute direct, unconditional and unsubordinated obligations of the government of Indonesia.

The notes will rank pari passu with all Indonesia’s senior unsecured external debt. The proceeds are intended for general budgetary purposes, including for financing requirements.

The rating mirrors the government of Indonesia’s long-term issuer rating of Baa2 with a stable outlook.

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