Moody’s upgrades Indonesia outlook to positive

Rating uptrend: A construction site is reflected in the windows of an office tower as workers clean them in Jakarta. Moody’s and Fitch upgraded Indonesia’s outlook to positive from stable on Wednesday. – Reuters

JAKARTA: Moody’s Investors Service upgraded its credit outlook on Indonesia to “positive” from “stable”, praising its progress on reforms and its efforts to keep finances under control despite falling prices for its main commodity exports.

Moody’s upgrade late on Wednesday follows a similar move by Fitch in December, and comes at a welcome time for Indonesia’s policymakers as they seek to attract and retain more foreign investment as emerging market assets globally come under stress.