May 19, 2017 / 8:29 AM / in 10 months

BRIEF-S&P revises Indonesia sovereign credit outlook down to stable from positive

May 19 (Reuters) -

* S&P revises Indonesia sovereign credit outlook down to stable from positive; current rating is BBB-

* S&P on Indonesia- Raised the ratings to reflect assessment of reduced risks to Indonesia’s fiscal metrics

* S&P on Indonesia- Raising short-term sovereign credit rating to ‘A-3’ from ‘B’

* S&P- Indonesia’s increased focus on realistic budgeting has reduced likelihood that shortfall in future revenue would widen general government deficit significantly

* S&P on Indonesia- Expect net general government debt will stabilize near the current low levels while the budget deficit will gradually decline

* S&P on Indonesia - Expect increased control over fiscal spending with subsidy reforms being extended to electricity subsidies from 2017.

* S&P on Indonesia- Net debt will remain at the moderate levels of below 30% of GDP

* S&P- Greater flexibility of the Indonesian Rupiah since 2013 should benefit external metrics over next three to five years

* S&P on Indonesia- Continues to trail many similarly rated sovereigns in perceptions regarding governance issues, such as control of corruption

* S&P - Indonesian authorities took effective expenditure & revenue measures to stabilize country's public finances despite the terms of trade shock Source text :

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