Indonesia’s Rating Outlook Suffers Fresh Blow From Fitch

Indonesia’s credit outlook was cut to negative by Fitch Ratings Inc. on rising policy uncertainty, adding to a widening chorus of warnings about risks to the Southeast Asian nation’s assets.

The ratings company revised Indonesia’s credit outlook from stable on Wednesday while affirming its long-term foreign-currency issuer default rating at an investment-grade BBB. The decision comes after Moody’s Ratings last month lowered its outlook on Indonesia, citing weakening governance under President Prabowo Subianto.