Summary
- Indonesia state-run power utility’s dollar bonds are the worst performers in Asia in the past two weeks due to concerns about the nation’s debt.
- Local borrowers face US$6 billion in maturities through the end of 2025, putting pressure on them.
- Rising yield premiums on notes of state firms and widening spreads of corporate and quasi-sovereign notes have been observed.
- The weakening rupiah has made it more expensive for local companies to service their dollar debts.