Moody’s assigns A3 rating to Malaysia’s sukuk


In a statement, Moody’s said the A3 rating assigned to the sukuk is at the same level as the long-term local currency and foreign currency issuer ratings of the government.

KUALA LUMPUR: Moody’s Investors Service has assigned a senior unsecured rating of A3 to the proposed US dollar-denominated trust certificates (sukuk) with maturities of 10 and 30 years, that would be issued by Malaysia Wakala Sukuk Bhd.The latter is a special purpose vehicle established by the government of Malaysia.

In a statement, Moody’s said the A3 rating assigned to the sukuk is at the same level as the long-term local currency and foreign currency issuer ratings of the government.

It said the rating is underpinned by its diversified, competitive and moderately large economy, strong medium-term growth potential compared with peers, and ample natural resources.

“Credible and effective macroeconomic policymaking institutions also foster stability and support the country’s economic resiliency, ” it said. — Bernama

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