Indonesia Credit Rating

This page includes the government debt credit rating and outlook of Indonesia as reported by the credit rating agencies of S&P, Moody’s and Fitch. Credit rating agencies are often slow to respond to rising risk conditions. Sign up free to monitor Indonesia’s sovereign risk using MacroVar Advanced Financial & Macroeconomic data analytics.

Date Rating Outlook Indicator
27-04-22 BBB (Stable) BBB Indonesia Credit Rating (S&P)
10-02-22 Baa2 (Stable) Baa2 Indonesia Credit Rating (Moody's)
17-04-20 (Negative) Indonesia Credit Rating (S&P)
10-02-20 Baa2 (Stable) Baa2 Indonesia Credit Rating (Moody's)
24-01-20 BBB BBB Indonesia Credit Rating (Fitch)
31-05-19 BBB (Stable) BBB Indonesia Credit Rating (S&P)
14-03-19 BBB BBB Indonesia Credit Rating (Fitch)
02-09-18 BBB (Stable) BBB Indonesia Credit Rating (Fitch)
13-04-18 Baa2 (Stable) Baa2 Indonesia Credit Rating (Moody's)
20-12-17 BBB (Stable) BBB Indonesia Credit Rating (Fitch)
19-07-17 BBB- (Positive) BBB- Indonesia Credit Rating (Fitch)
19-05-17 BBB- (Stable) BBB- Indonesia Credit Rating (S&P)
08-02-17 Baa3 (Positive) Baa3 Indonesia Credit Rating (Moody's)
21-12-16 BBB- (Positive) BBB- Indonesia Credit Rating (Fitch)
22-07-16 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
23-05-16 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
28-01-16 Baa3 (Stable) Baa3 Indonesia Credit Rating (Moody's)
06-11-15 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
21-05-15 (Positive) Indonesia Credit Rating (S&P)
13-11-14 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
18-09-14 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
18-08-14 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
03-07-14 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
16-01-14 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)
13-12-13 BBB- (Stable) BBB- Indonesia Credit Rating (Fitch)

Indonesia Credit Rating Analysis

The credit rating signal from each credit rating agency for the sovereign debt of Indonesia and it’s meaning is presented in the table below.

S&PMoody’sFitchAnalysis
AAAAaaAAAPrime
AA+Aa1AA+High grade
AAAa2AA
AA-Aa3AA-
A+A1A+Upper medium grade
AA2A
A-A3A-
BBB+Baa1BBB+Lower medium grade
BBBBaa2BBB
BBB-Baa3BBB-
BB+Ba1BB+Non-investment grade
speculative
BBBa2BB
BB-Ba3BB-
B+B1B+Highly speculative
BB2B
B-B3B-
CCC+Caa1CCCExtremely speculative
CCCCaa2
CCC-Caa3In Default with small probability of recovery
CCCa
CC
D/DDDIn default