Fitch Assigns Final BBB Rating to Indonesia’s USD Sovereign Global Sukuk

Fitch Ratings (Fitch) has assigned a final rating of BBB to Indonesia’s USD sovereign global Sukuk certificates issued through Perusahaan Penerbit SBSN Indonesia III (PPSI-III). PPSI-III is a legal entity in Indonesia established purely to issue foreign-currency denominated, Shariah-compliant securities for the Government of Indonesia in international markets.

The final rating corresponds with Indonesia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) of BBB (affirmed in January 2020), and replaces the expected rating of BBB (EXP) assigned by Fitch on the 16th of June 2020.

The Sukuk was issued on the 23rd of June 2020 in three tranches; USD 750 million Green Su...