Business Services Industry
INDONESIA: MOODY'S REPORT ON INDONESIA RELEASED.
IPR Strategic Business Information Database, March, 2003
In its annual report on Indonesia, Moody's Investors Service says its B3 country ceiling for foreign currency debt reflects the continued fragility of the country's external financial position due to lack of investor confidence, continued weakness in the banking sector, and high public-sector debt.
"Nevertheless, the outlook for the speculative-grade rating is positive," says Moody's Vice President Steven Hess, author of the report. "This is due to a diversified economy that helps check volatility, increased - though not perfect - political stability, and progress in reform that has been achieved since the election of President Megawati Soekarnoputri in 2001." In a press release, Moody's positive outlook is also due to the government's progress in asset...
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