Fitch Rates Indonesia's Yen Bond 'BBB-' (EXP)

Fitch Ratings has assigned Indonesia's forthcoming Japanese yen denominated bonds an expected rating of 'BBB-(EXP)'.

KEY RATING DRIVERS

• The expected rating is in line with Indonesia's Long-Term Foreign Currency Issuer Default Rating (IDR) of 'BBB-' with Stable Outlook.

RATING SENSITIVITIES

• The rating on the bonds would be sensitive to any changes in Indonesia's Long-Term Foreign Currency IDR. In May 2016, Fitch affirmed Indonesia's Long-Term Foreign Currency IDR at 'BBB-' with a Stable Outlook. The Long-Term Local Currency IDR is also 'BBB-' with a Stable Outlook.