Fitch Ratings reinstates Indonesia's investment grade
Fitch Ratings has returned the investment grade credit rating to Indonesia, after the 14-year hiatus.
The action, announced today at the press conference in Sinagpore, effectively puts Indonesia on the same investment grade as India.
The agency said in a statement 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.
Indonesia, with stable politics, has attracted foreign investment in the past few years. With over 200 million population, it becomes an attractive destination particularly to those in the automotive industry.
