In the Jokowi Administration era, analysts predicted due to access to financing has tightened across the world, and as the perception of risk in the industry grows, state companies like Pertamina find themselves with reduced access to credit, and on less attractive terms. However,By improving perceptions of the country’s fiscal sustainability, the reforms can contribute to improved investor perceptions, as evidenced by the speculation that Standard & Poor’s may give Indonesia an investment-grade credit rating