Fitch affirms Indonesia's BBB- rating with stable outlook
Indonesia's ratings balance a low government debt burden, favorable growth outlook and limited sovereign exposure to banking-sector risks with a weak external position that makes the country relatively vulnerable to shifts in market sentiment and an improving, albeit weak, business environment, the agency said in a statement.
A strengthening of external balances and evidence of higher sustainable GDP growth in the longer run could trigger positive rating action, Fitch said.
Meanwhile, a sharp and sustained external shock to foreign and/or domestic investors' confidence and a rise in the public debt burden could lead to negative rating action, the agency added. ■