Indonesia scored its second credit rating upgrade in as many months on Wednesday, as Moody’s raised the status of Southeast Asia’s largest economy to investment grade.

The credit ratings agency said it raised Indonesia’s bonds from junk status because of the nation’s ability to withstand global economic shocks.

Specifically, the agency cited Indonesia’s efforts to cut government debt and and gains in investment spending. It also spoke of its “well-managed financial system” and recent policy reforms that improve prospects for infrastructure development.

In December, another rating agency, Fitch, restored the emerging market economy to investment grade after 14 years of junk status.

Indonesian officials hope the moves spark increased foreign investment in the country of 240 million people. Indonesia has averaged 6 percent growth in recent years, but it still needs foreign investment to improve its overburdened infrastructure.

Indonesian officials have been careful in recent years to reduce the country’s public debt. Moody’s said Wednesday that Indonesia’s fiscal situation is now better than some nations with higher ratings.

The credit rating upgrades come at a time when other emerging markets such as Brazil and the Philippines are also gaining upgrades, while economies in Europe are having their ratings cut because of massive sovereign debt problems.