Fitch ‘more likely than not’ to downgrade rating on Malaysia’s sovereign debt

PETALING JAYA: Fitch Ratings is “more likely than not” to downgrade the rating on Malaysia’s sovereign debt, currently rated at A-, in a review expected during the first half of 2015, says its Asia-Pacific Sovereign group associate director Sagarika Chandra.

She said that the upward revision of the Government’s fiscal deficit target and reduced gross domestic product (GDP) forecast for 2015 had reinforced the fact that dependence on commodities remained a key credit weakness.