Moody's Investors Service upgraded its credit outlook on Indonesia sovereign debt to "positive" from "stable" late on Wednesday and reaffirmed its Baa3 ratings, the lowest notch for investment-grade debt. Bank Indonesia governor Agus Martowardojo said the Moody's upgraded outlook showed international recognition of the country's "success in maintaining macroeconomic and financial stability that create a conducive environment for sustainable growth". Officials have long been hoping for a ratings upgrade from Standard & Poor's, which has kept Indonesian debts at junk status. Fitch Ratings gave Indonesia an investment-grade ratings in 2011 and Moody's in 2012. Moody's said key drivers of its change in outlook were smaller current account deficit and higher foreign exchange reserves.

Source: Bangkok Post February 09, 2017 11:47 UTC