Untuk menyegarkan ingatan pada 17 Januari lalu yang belum lama, lembaga
pemeringkatan kelas dunia, Moody's Investor Service, telah menaikkan
peringkat Indonesia menjadi Ba1 dari Ba2, satu tingkat di bawah level
'investment grade' seperti 15 tahun lalu sebelum krisis moneter yang
mengkualifikasi Indonesia pada saat itu sebagai 'macan ekonomi Asia'. Ada 3
alasan yang sudah dipaparkan pada awal tahun sebelum kenaikan peringkat
diumumkan minggu lalu. Kesemua alasan tersebut menggambarkan betapa
fundamental dan prospek perekonomian Indonesia ke depan tidak perlu
diragukan.

RATINGS RATIONALE

The main reasons for the decision are:

(1) Indonesia's economic resilience is accompanied by sustained
macroeconomic balance;

(2) The government's debt position and the central bank's foreign currency
reserve adequacy are improving; and

(3) The prospects for foreign direct investment inflows are also improving,
and this is expected to fortify Indonesia's external position and economic
outlook.

In addition, the upgrade affects the country's ceiling for foreign currency
(FC) bonds, which has consequently been moved up by a notch to Baa3, and the
FC bank deposit ceiling, which has been moved up to Ba2. The outlook is
stable.

Moreover, the local currency bond and deposit ceilings have been raised to
Baa1 from Baa2.

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