Indonesia for the first time to regain investment grade debt rating for its government, after about 14 years is below investment grade level. An International debt rating agency, Fitch Ratings for the first time raised Indonesia’s debt rating from BB + to BBB-(investment grade) with a stable outlook, since the loss of investment grade ratings on the Asian financial crisis in 1997 ago.
Being upgraded Indonesia’s credit rating has made Indonesia’s credit rating leveled with India. Fitch Ratings stated that the raising of Indonesia’s ranking reflects that Indonesia has a strong economic growth and robust, and low levels of public debt.
Position of Indonesia in the eyes of the international debt rating agencies are increasing lately, after President Susilo Bambang Yudhoyono is targeting economic growth by an average of 6.6% until the end of his terms in 2014.
Previously, other agencies ie Moody’s Investors Service has also raised Indonesia’s ranking in the month of January 2011 and became Ba1. Meanwhile, in April 2011, the S & P also raised its ratings for Indonesia from BB to BB +, although is still one level below investment grade.
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