Fitch Ratings, one of the globe's big three credit rating agencies, decided to upgrade Indonesia's long-term foreign- and local-currency issuer default ratings (IDR) to BBB (with a stable outlook), from BBB- previously. What influenced Fitch Ratings' decision?

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Fitch Ratings, one of the three big global credit rating agencies, affirmed Indonesia's long-term foreign- and local-currency issuer default ratings (IDRs) at 'BBB-' (investment grade) with a positive outlook. Meanwhile, the issue ratings on Indonesia's senior unsecured foreign- and local-currency bonds and foreign-currency sukuk was also affirmed at 'BBB-'. The country ceiling has been affirmed at 'BBB' and the short-term foreign- and local-currency IDRs at 'F3'. The senior unsecured short-term issues have also been affirmed at 'F3'.

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