TEMPO Interactive, Jakarta:The government is carefully watching the state of six European countries after the recent downgrades by a major rating agency. Finance Minister Agus Martowardojo said the decrease in debt rating would see investors review portfolio investments and other business plans. “Structural reforms or reforms in the financial field must be continued so that global trust in Indonesia is maintained,” he said yesterday. He said the government would not change the target and value of state promissory notes (SUN). “We will still conduct the SUNs for refinancing or funding needs,” said Agus. Standard & Poor's last week reduced the loan ratings of nine European countries, including France and Austria, by one level to AA+ from AAA. Italy was downgraded from A to BBB+, Portugal from BBB- to BB, and Spain from AA- to A. Malta’s rating decreased by one level from A to A-, Slovakia from A+ to A, Slovenia from AA- to A + and Cyprus from BBB to BB+. Finland, the Netherlands and Luxemburg remained on AAA level with a negative watch. Debt Management director-general Rahmat Waluyanto, said the decrease in European state promissory notes would have a positive impact on Indonesia. Until last weekend, SUN purchases by foreign investors reached Rp2 trillion. “The crisis in Europe generated global investors to our SUN because it’s considered strong,” he said. ALWAN RIDHA RAMDANI | ARIF ARIANTO