- VIVAnews/Tri Saputro
VIVAnews - Moody's Investors Services raises Indonesia's credit rating by Ba1, one more step to the Investment Grade.
According to Vice President of Moody's, Aninda Mitra, the rating upgrade is based on several factors such as solid economic resilience as well as improving management on macro economy, government credit, and sufficient foreign exchange reserves.
Moody's had reviewed Indonesia's grade in December 2010 stating that the nation could endure the global economic downturn, advance state governance and enhance management on domestic political affairs.
"We have strengthened sovereign credit rating which may become a fine momentum for the Indonesian economy that is based on domestic demands, more direct investments, better credit positions and foreign exchange reserves," said Aninda today.
Nonetheless, Moody's also underscores several risks in the future that the nation have to deal with mainly those concerning with political issues.
In addition, "The growing foreign ownership in Rupiah bonds may result in certain problems for Indonesia," he said.
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Translated by: Bonardo Maulana W
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