Demand at Indonesia's government securities (SUN) auction on Feb. 18 fell to about 63.1 trillion rupiah, down from 76.6 trillion rupiah earlier in February and continuing a declining trend from nearly 91 trillion rupiah at the year's first auction, Bisnis reported Thursday, citing the Directorate General of Financing and Risk Management (DJPPR).

Despite weaker demand, the government awarded 40 trillion rupiah, higher than the previous auction's 36 trillion rupiah, with the largest bids for the five-year FR0109 and 10-year FR0108 series.

Earlier this month, Moody's Ratings downgraded Indonesia's rating outlook to negative from stable while maintaining its Baa2 rating, citing reduced predictability in policy formulation that risks weakening policy effectiveness and governance, the report said.

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