SINGAPORE: Standard & Poor’s Ratings Services (S&P) said the rating on Sarawak (A-/Stable; axAA) is not affected by the imminent resignation of the state’s long-serving Chief Minister Tan Sri Abdul Taib Mahmud.
S&P said in a statement: “We expect the leadership transition to be smooth and the Government’s current policies to continue, given that the potential candidates have considerable experience in the current state cabinet. While unlikely, in our view, any material deviation from the current economic and financial policies could put pressure on the ratings.”