The Indonesian govern-ment's attempts to attract investment received another boost yesterday when Moody's, the ratings agency, improved the outlook from stable to positive on its B2 foreign currency country ceiling for bonds, its B3 foreign currency ceiling for bank deposits and the government's B2 foreign and local currency ratings.

Although the change will be welcome to the government, the ratings are still five levels below investment grade, on a par with Pakistan. In December, Standard & Poors raised its long-term foreign currency sovereign credit rating from B to B+.