The rupiah’s 17-year low against the US dollar is placing great pressure on Indonesian companies, notably property developers, who need to pay off their FX debt, credit agencies are warning. Many are also painfully under-hedged, they added.
On June 21 Moody's downgraded the credit ratings of 15 global banks by a number of notches. The markets appeared uninterested but the impact on corporate treasury trade finance will hurt. We ask Olivier Hubert, treasury consultant at AlterCFO, to explain what that pain will be.
Jun 28, 2012
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