The rating agency said it expects key economic policymaking institutions in the country to maintain their credibility and independence despite heightened political noise.
In a statement today, the rating agency said the rating affirmation reflects Moody’s expectations that Malaysia’s economic diversification and competitiveness and the government’s access to robust sources of domestic financing will persist as credit strengths, helping to mitigate fiscal risks that have risen following the Covid-19 pandemic, including an increased debt burden and weakened debt affordability.
It said the stable outlook reflects Moody’s view that risks to the credit profile remain consistent with the A3 rating level based on current assumptions. The rating agency concurrently affirmed the foreign currency ratings on the backed senior unsecured debt issued by Malaysia Sovereign Sukuk Bhd, Malaysia Sukuk Global Bhd, and Malaysia Wakala Sukuk Bhd, special purpose vehicles established by the Malaysian government, at A3.The rating agency also said that Malaysia’s local and foreign currency country ceilings remain unchanged at Aa1 and Aa2, respectively.
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