Moody’s: Indonesia’s USD 25 Billion Sovereign Sukuk Offering Assigned Baa2 Rating with Stable Outlook

Moody’s Investor Services (Moody’s) has assigned a Baa2 rating (Stable Outlook) to the USD 25 billion sovereign Sukuk issued on the 18th of June 2020 by the Government of Indonesia, through  Perusahaan Penerbit SBSN Indonesia III (PPSI III), under its existing trust certificate issuance program. Moody’ stated that the ratings are applicable to all the tranche issuances, including those set to mature in 2025, 2030, and 2050.

Moody’s notes that the ratings are in line with the Government’s long-term issuer rating of Baa2, with a Stable Outlook. These trust certificates will constitute direct, unconditional and unsubordinated liabilities of the Government. According to Moody’s, the payme...