Fitch affirms Malaysia's credit rating at BBB+, outlook 'stable'
Fitch affirms Malaysia's credit rating at BBB+, outlook 'stable'
KUALA LUMPUR (June 28): Fitch Ratings on Friday affirmed Malaysia’s sovereign rating at BBB+ with a ‘stable’ outlook, citing strong medium-term growth prospects, but flagged high public debt, low government revenue, and near-term political challenges.
Budget flexibility is relatively limited, with the vast majority of current expenditure allocated to salaries, pensions, debt servicing, subsidies and social assistance, the ratings agency noted. Income from non-petroleum sources over the medium term will remain limited without substantial measures, it noted.
More to come
S&P affirms Malaysia’s sovereign ratings at A-, outlook ‘stable’