Indonesia - Rating raised by Moody's to 13-year high

Moody’s Investors Service upgraded Indonesia’s foreign and local-currency bond rating to Ba1 from Ba2, the highest level since the 1997 Asian financial crisis, citing the nation’s “economic resilience” and improving public debt position. That’s still one step below investment grade and puts Indonesia on par with Greece, which was placed on review for a possible downgrade by Moody’s last month. Moody’s also commented that the rating’s outlook is “stable.” S&P lifted Indonesia’s sovereign credit rating to BB from BB- last year, two levels below investment grade, with a positive outlook. (Bloomberg)