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Indonesia investment rating restored after 14 years
Indonesia on Thursday recovered its coveted investment grade status from Fitch Ratings, the first of the three major ratings agencies poised to give the emerging economy a lift. The move crowns nearly a decade of steady economic improvement in Southeast Asia's largest economy, which had been downgraded to junk status during the Asian financial crisis in 1997, when the 32-year rule of strongman Suharto came to an end. Fitch raised Indonesia's long-term foreign-currency and local-currency ratings by one notch to BBB-minus, the first rung of the 10-step investment scale and on par with India, Colombia and Morocco. It ... (full story)
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