Bloomberg Markets – Indonesia Raised to Investment Grade by S&P on Budget Curbs

A recent tax amnesty raised the government over $10 Billion and helped ease pressure on the budget

May 19, 2017

‘S&P Global Ratings raised Indonesia’s credit rating to investment grade, bringing it in line with the other two main rating companies and paving the way for more fund inflows into Southeast Asia’s largest economy. Stocks surged to a record and the rupiah advanced.

The sovereign rating was lifted to BBB- from BB+ with a stable outlook, S&P said on Friday, citing an improvement in the budget. Both Moody’s Investors Service and Fitch Ratings have a positive outlook on their assessments of the nation’s debt.’

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