Rating affirmation shows S&P’s confidence in Malaysia

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PETALING JAYA: S&P Global Ratings (S&P) has affirmed Malaysia’s foreign currency and local currency long-term issuer ratings at A- and A, respectively, with a negative outlook.

In a statement, the Finance Ministry said the affirmation is testament to the country’s strong external position, monetary policy flexibility, recognised track record of supporting sustainable economic growth as well as economic resilience during times of uncertainty. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said the affirmation demonstrated S&P’s confidence in Malaysia amid unprecedented credit rating pressures globally, where approximately 20% of all sovereigns with negative outlooks as at end of 2020 have been downgraded by the three main credit rating agencies.