Moody’s assigns Indonesia bonds Baa2

Moody’s Investors Service said it assigned Baa2 ratings to the proposed senior unsecured dollar-denominated notes to be issued by the government of Indonesia. The planned notes have maturities ranging from 10-50 years.

The notes will rank pari passu with all of Indonesia’s senior unsecured external debt.

The proceeds are intended for general budgetary purposes, including to partially fund Covid-19 relief and recovery efforts.

The rating mirrors Indonesia’s long-term issuer rating of Baa2 with a stable outlook, the agency said.

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