Indonesia’s proposed Sukuk issue assigned BB+ rating by S&P

SINGAPORE - Standard & Poor's today assigned its 'BB+' long-term foreign currency rating to a proposed global sukuk trust certificate issuance under the US$10 billion rated sukuk programme of Indonesia through Perusahaan Penerbit SBSN Indonesia III (PPSI-III). The issuer is a fully owned special purpose vehicle of Indonesia established solely for issuing foreign-currency-denominated Sharia-compliant securities of Indonesia in international markets.

S&P says the rating on the proposed sukuk trust certificates reflects the long-term foreign currency rating on Indonesia because the transaction fulfills the five conditions of its criteria for rating sukuk. www.standardandpoors.com (ATI).