Indonesian officials told S&P officials who visited Jakarta earlier this year that the credit rating agency was already late making an upgrade.
Standard & Poor's raised Indonesia's sovereign credit rating to investment grade Friday, in line with the other two major rating agencies, in a move likely to attract more investment into Southeast Asia's top economy. A rating upgrade usually also means an economy can get cheaper borrowing costs when it issues bonds.
The sovereign rating was lifted to BBB- from BB+ with a stable outlook and improvement in state's development budget.
The Jakarta Composite Index jumped as much as 3.2 percent to a record 5,825.2, extending gains this year to nearly 10 percent. The rupiah also rallied against the dollar.
"Winning the investment grade title allows Indonesia access to a wider investor base".
S&P said the upgrade reflected its assessment of reduced risks to the country's fiscal position.
"The government's new focus on realistic budgeting has lowered the risks that budget deficits will widen significantly when government revenue disappoints", S&P said.
Indonesia is trying to lure investors for a $450 billion infrastructure drive to revive economic growth.
Over 70 escape in second Congo prison break this week
Bundu Dia Kongo is campaigning to restore a monarchy in parts of DR Congo, Congo-Brazzaville, Angola and Gabon. A lawmaker, Nsemi is the spiritual leader of the BDK which has called for an insurrection against Kinshasa .
S&P had previously cited a host of concerns, such as a failure to implement much-needed policies to help the economy, for their reluctance in giving Indonesia an investment grade rating. It gave Indonesia a positive outlook in May 2015 for President Joko Widodo's bold move to remove gasoline subsidies.
Since then, Widodo reshuffled his cabinet and appointed respected reformist, former managing director of the World Bank, Sri Mulyani Indrawati, as his finance minister.
She then ran a tax amnesty program that many said was the world's most successful and is now overseeing a plan to overhaul the taxation system.
"From a macro stance, the S&P upgrade is positive as this will further reduce the country's cost of funds which is relatively expensive vs its peers in the region", said Bharat Joshi, investment director at Aberdeen Asset Management in Jakarta. The central bank will seek to maintain stability "to support the continuation of structural reforms taken by the government and the development of a sustainable and inclusive economic growth", Governor Agus Martowardojo said in a statement.
The National Weather Service reports 36 inches (0.9 meter) of snow fell in Estes Park, a village adjacent to the national park. There is another chance for rain and thunderstorms on Sunday when the high temperature could reach 64 degrees.
Tottenham were the team to end Chelsea's historic run in the Premier League in January, beating them in a convincing 2-0 defeat. Asked if he would be at the club next season, Conte told reporters: "Yeah, and we have to improve next season".
USA presidents of both parties have repeatedly waived a US law requiring the embassy be moved to Jerusalem . Trump slammed President Barack Obama for not vetoing the resolution, calling it "extremely unfair".
Perú enfrentará a Paraguay el jueves 8 de junio en Trujillo y luego viajará a Arequipa para enfrentar a Jamaica . Está prohibido todo tipo de reproducción sin autorización escrita de la Agencia EFE S/A.
FireEye Inc, another large cyber security firm, said it was also investigating but cautious about drawing a link to North Korea. Although bitcoin is anonymized, researchers can watch it flow from user to user. "It's a really strong overlap", he said.
Minister Varadkar says despite his early lead, he hasn't won anything yet - but he has the best intentions for the country. Ireland will have a new prime minister in June after Taoiseach Enda Kenny quit as leader of his party.
The employees walked out of the store around 3 p.m. and are picketing on the side of the road to grab the attention of drivers. The three-day strike will last through the weekend, according to the workers' union, the Communications Workers of America.
Felicity Jones is engaged to her longtime boyfriend, Charles Guard , a source exclusively reveals in the new issue of Us Weekly . More recently, the actress also shared her thoughts on how future motherhood may affect her Hollywood career.
Lighthizer said he hopes to preserve Nafta's existing structure but that numerous negotiations would be conducted bilaterally. Videgaray added that a "win-win framework" remains possible for a trade pact among the U.S., Canada and Mexico.
But having been used once in humiliating fashion, Rosenstein is unlikely to bend to the White House's wishes a second time . Gergen wasn't the only moderate voice to suggest that a plausible case for Trump's removal was emerging.
Trip to bring Macron face-to-face with troops
He was visiting France's largest overseas military operation, which is combating jihadist groups in West Africa. Castaner said he and the president are committed to letting journalists do their jobs.
Unemployment rates hit record lows in 3 states
In April, Florida's 24 regional workforce boards reported 19,033 Floridians, including 1,069 veterans, were placed in jobs. The U.S. seasonally adjusted jobless rate fell to 4.4 percent, down from 4.5 percent in March and 5 percent in April 2016.
Destiny 2 for PC Will Be Exclusive to Battle.net
Players will fight aboard and against the Red Legion's fleet of ships and its seemingly innumerous armies, but they're not alone. There are new class powers too, including Dawnblade, the Titan's Sentinel, the not-Captain-America-shield, and the Arcstrider.
Bella Hadid suffers wardrobe malfunction at Cannes Film Festival
And it seems Bella was ecstatic to be sharing the red carpet with the acting legend, as she was spotted rushing over to say hello. Evidently in high spirits, Elle beamed as she greeted fellow guests on the night, among them Hollywood veteran Susan Sarandon.
Immigration officers detain man whose prison term was cut
Under a 1984 agreement, Cuba agreed to take back 2,746 of their citizens who came to the United States as part of the boat lift. Lima-Marin's wife, Jasmine, was eating lunch in her auto at work when she heard the good news about her husband's re-release.
Roger Ailes, Former CEO Of Fox News Dies At 77
Justice Department investigation, CNN and NY magazine have reported, although Reuters has not confirmed those reports. Ailes was sacked from Fox News previous year after he was accused of sexual harassment by more than 25 women.
Erdogan watched attack on protesters in DC
Police officers can be seen attempting to hold some of the aggressors back, dragging them to the other side of the street. A group of Republican lawmakers called the incident an "affront to the United States" and called for Turkey to apologize.
Argentina debuta en el clásico
Entre ellos no estarán Serbia , la última campeona, Brasil y España, todos ellos eliminados en la fase clasificatoria. Cuando todo parecía ser malas noticias para la Selección Sub 20 , finalmente llegó la buena y más esperada.
Third Confederate statue removed in New Orleans
Louis, Missouri, Mayor Lyda Krewson has committed to removing a 32-foot tall Confederate monument from a park. The Beauregard statue was the third of four Confederate monuments Mayor Mitch Landrieu has vowed to remove.