Fitch Ratings assigned a 'BBB-(EXP)' rating to Indonesia's USD-denominated global bonds. The rating was pending receipt of final documentation.

The given rating was in accordance to the country's issuer default rating of 'BBB'. In addition, Indonesia was also given a Stable Outlook.

The ratings mirrored the country's strong and resilient economic growth. This growth was supported by high rates of investment and savings as well as decreasing public debt ratios.

The ratings incorporated Fitch's expectation that the country would manage the policy so as to prevent economic overheating. Some signs of overheating would include widening external balances and pick-up in inflation.

Indonesia's economy and credit fundamentals should be enhanced by addressing structural weaknesses together with sustaining economic growth. In addition, creating reforms for public finances that would result in a flexible budget would also help give the country have positive ratings.

On the contrary, deterioration in fiscal or monetary policy management quality would bring the ratings down. In addition, an unstable banking system would also adversely affect the country's ratings.