S&P affirms Indonesia credit rating, but outlook remains negative

JAKARTA - Global ratings agency Standard and Poors has affirmed Indonesia's sovereign credit rating at 'BBB/A-2' , but says the outlook remains negative.

S&P says Indonesia continues to face pressure on its external and fiscal settings related to the COVID-19 pandemic, but at the same time, the country's economy is stabilising, and gradual fiscal consolidation and improved trade flows are likely over the next three to four years.

"We affirmed our 'BBB' long-term and 'A-2' short-term sovereign credit ratings on Indonesia. The outlook on the long-term rating remains negative," S&P says. The negative outlook reflects our expectation that Indonesia will face sustained fiscal and external pressures related to the COVID-19 pandemic over the next 12-24 months.

www.standardandpoors.com (ATI).