Indonesian Firms Now More Resilient to Rupiah Weakness, S&P Says
'We believe the Indonesian corporate sector is more resilient to depreciations in the rupiah than in previous depreciation cycles,' Xavier Jean, S&P senior director for corporate ratings in Singapore, said in an email interview last Friday. Financial leveraging has decreased from Covid highs and 'domestic funding is more prevalent in the economy' as firms take advantage of lower bank rates to refinance in the local currency, he added.
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