Bloomberg Indonesia may reach Investment Grade in one year

Indonesia’s sovereign debt rating may reach investment grade within one year, Dian Ediana Rae, deputy director for international relations at the country’s central bank, said. Standard & Poor’s raised the country’s sovereign credit rating to a 12-year high of BB from BB- on March 12. The S&P rating, which has a positive outlook, is two levels below investment grade. Bank Indonesia last month raised its 2010 growth forecast to 5.6% from 5.2%, and predicted the economy would expand as much as 6.5% next year as consumer spending accelerates.