S&P Global Ratings confirmed Indonesia's investment-grade credit rating and stable rating outlook, bringing some relief to investors and contrasting other rating agencies' trend of becoming cautious in Southeast Asia's largest economy. The agency maintained a stable outlook on Indonesia on Monday and confirmed its long-term foreign currency issuer rating as BBB. Earlier this year, Moody's and Fitch downgraded Indonesia's rating outlook to negative, citing concerns about the state of governance under Prabowo Subianto's government, but left the rating unchanged. S&P said in a statement that the stable outlook reflects that the expected deterioration in Indonesia's fiscal and external indicators is only temporary. It also reflects S&P's forecast that the upper limit of the budget deficit of 3% of GDP will remain an important policy anchor for the country. Affected by the above news, Indonesia's Jakarta Composite Index once rose 1.9% to a new high of more than two weeks.

S&P Global Ratings confirmed Indonesia's investment-grade credit rating and stable rating outlook, bringing some relief to investors and contrasting other rating agencies' trend of becoming cautious in Southeast Asia's largest economy. The agency maintained a stable outlook on Indonesia on Monday and confirmed its long-term foreign currency issuer rating as BBB. Earlier this year, Moody's and Fitch downgraded Indonesia's rating outlook to negative, citing concerns about the state of governance under Prabowo Subianto's government, but left the rating unchanged. S&P said in a statement that the stable outlook reflects that the expected deterioration in Indonesia's fiscal and external indicators is only temporary. It also reflects S&P's forecast that the upper limit of the budget deficit of 3% of GDP will remain an important policy anchor for the country. Affected by the above news, Indonesia's Jakarta Composite Index once rose 1.9% to a new high of more than two weeks.