Growth outlook: A cargo ship is towed in by tugboats in Tanjung Priok Port, Jakarta. Fitch expects Indonesia’s gross domestic product to rise 5.4 in 2018 and 5.5 in 2019, from 5.1 in 2017. — Reuters
JAKARTA: Indonesia won a second sovereign rating upgrade this year, with Fitch Ratings raising its assessment to the second-lowest investment grade, months after S&P Global Ratings lifted the nation out of junk status. The nation’s stocks and currency rallied.
The rating on the nation’s long-term, foreign currency-denominated debt was raised one level to BBB with a “stable” outlook, Fitch said in a statement. The upgrade puts Indonesia on par with the Philippines and Portugal, which received upgrades just this month.
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