+32 2 645 19 15News summaries
Indonesia regains investment grade after 14 years
Indonesia has recovered the investment grade status for its sovereign debt at Fitch Ratings after 14 years, putting the country on the same level as India.
The agency said in a statement on Thursday that Indonesia had resilient economic growth, low government debt and prudent policy.
The country lost the investment grade rating in December 1997 during the Asian financial crisis.
The upgrade is expected to encourage more investment into the economy.
Analysts have long expected Indonesia's rating to be raised to investment grade.
It brings down borrowing costs and makes the country more attractive to investors at a time when major economies are being downgraded.
"Indonesia, in terms of sovereign risk, is better than several Western European countries," said Jerome Booth from Ashmore Investment Management in London.
