Business survival seen remaining challenging

“The risk of business failure increases exponentially the longer the pandemic prevents a return to some semblance of normal activity, ” said the international rating agency in a statement here.

KUALA LUMPUR: A vaccine for Covid-19 will help accelerate the recovery in sectors impacted by the pandemic, but for many of the businesses, survival will remain challenging until the virus is no longer viewed as a significant public health threat, Moody’s Investors Service said.

It said the pandemic has already inflicted enormous damage on the hardest-hit sectors and will continue to undermine their financial condition and prospects, with repeated virus outbreaks and lockdown measures suppressing demand.