Indonesia hails credit outlook upgrade to 'positive' by Moody's

Jakarta

INDONESIAN authorities welcomed a credit outlook upgrade by Moody's as a sign investors are increasingly comfortable with the country, while the chief economics minister chastised Standard & Poor's (S&P) for holding back an investment-grade rating.

Moody's Investors Service upgraded its credit outlook on Indonesia sovereign debt to "positive" from "stable" late on Wednesday and reaffirmed its Baa3 ratings, the lowest notch for investment-grade debt.