RI gets Triple-C rating

RI gets Triple-C rating

HONG KONG (Dow Jones): Duff & Phelps Credit Rating Co. said Tuesday it has assigned a Triple-C long-term foreign currency issuer rating to the Republic of Indonesia and a Single-B-minus rating to the country's outstanding US$400.0 million Yankee bond due 2006.

The credit ratings agency said Indonesia's Triple-C rating, well into non-investment grade territory, was assigned "in light of the recent rescheduling of US$4.2 billion in sovereign debt with the Paris Club of bilateral creditors and the increased likelihood of some rescheduling of sovereign commercial debt."