S&P Maintains Indonesia's Credit Ratings, but Flags Fiscal Uncertainties Ahead

S&P GLOBAL RATINGS - JAKARTA. S&P Global Ratings affirmed on Tuesday Indonesia's ratings at BBB investment grade with a stable outlook, but flagged fiscal uncertainties from the incoming government led by Prabowo Subianto.

Prabowo's team has assured the market that it will commit to the legal deficit ceiling of 3% of gross domestic product (GDP) and maintain the status quo on the debt-to-GDP ratio, after media reports speculated that the president-elect plans to revise the legal budget ceiling and may allow the debt-to-GDP ratio to rise.