Indonesia just got a boost in investor confidence with Japan’s Credit Rating Agency (JCR) upgrading its sovereign debt to investor grade. In increasing the foreign currency rating to BBB-minus, JCR said Indonesia could “sustain modest economic growth while maintaining macroeconomic stability and fiscal soundness in the years to come.”

Indonesia could use this news to attract more investors to its planned issue of ‘samurai bonds’ (yen bonds issued in Japan by non-Japanese entities), a move tried by the Philippines earlier this year.

source & article: Reuters