Fitch Ratings: Indonesia getting upgrade first than Manila

Fitch Ratings said on Tuesday it sees higher prospects for Indonesia to get a positive rating action ahead of the Philippines, weeks after it lifted the Philippines' credit rating to a notch below investment grade.

In April, Fitch Ratings said in a report that Indonesia's prospects of securing an upgrade to an investment grade rating of BBB- or above would be bolstered by sustained economic growth and continued strengthening of its external balance sheet. It has positive outlooks on Indonesia's Long-Term Foreign Currency and Local Currency Issuer Default Ratings of BB+. Source: Reuters