INDONESIA: Jakarta Credit Rating

PPIAF supported the FMA and Credit Ratings for DKT Jakarta and the establishment of Debt Management Unit. The results of FMA and Credit Rating with a stable outlook for DKI Jakarta was very encouraging for bond issuance. In August 2012, DKI Jakarta has secured approval for bond issuance from the Minister of Finance. Taking into account all regulations and requirements, the city is expected to issue bonds at the latest by September 2013. The city is currently in the process of establishing a Debt Management Unit and choosing underwriter and other supporting services (public accountant, legal counsel, appraisal, bond rating agency, public relation, and registrar).