TEMPO.CO, Jakarta-Ratings agency Standard and Poor's Global Ratings (S&P) may upgrade Indonesia's rating to BBB (investment grade). S&P's sovereign and international public finance ratings director, Kyran Curry, said there are several outlooks that can increase Indonesia's investment rating next year.
"There is a high possibility," Kyran said after meeting with Coordinating Minister for Economic Affairs Darmin Nasution in Jakarta Wednesday, May 11, 2016.
However, Kyran said that S&P needs to look at other factors before upgrading Indonesia's rating. He said that S&P's assessment will be announced in June.
During his visit to Indonesia, Kyran also met with President Joko 'Jokowi' Widodo to discuss the government's agenda of accelerating the rate of infrastructure development.
To this day, Indonesia has yet to receive an investment grade rating from S&P. Indonesia has an S&P rating of BB+, which represents a positive outlook of one level below BBB. Indonesia has an investment grade rating from another agency, Moody's.
ANGELINA ANJAR SAWITRI