Moody’s raises outlook on Malaysia to positive

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moodys-genericMoody’s Investors Service has affirmed Malaysia’s government bond and issuer ratings at A3, but has changed the outlook to positive from stable. The international ratings agency said on November 20 the change in the outlook was driven by “improved prospects for fiscal consolidation and reform and continued macroeconomic stability in the face of external headwinds”.

Moody’s said it had also affirmed Malaysia’s long-term foreign currency bond ceiling at A1 and its long-term foreign currency bank deposit ceiling at A3. The short-term foreign currency bond and bank deposit ceilings were affirmed at P-1.

The agency said these ceilings act as a cap on ratings that can be assigned to the FC obligations of entities other than the government that are domiciled in the country. Moody’s also affirmed the local currency country risk ceiling at A1.

In a related rating action, Moody’s affirmed the instrument ratings of Khazanah Nasional Bhd at A3, and revised the outlook to positive from stable. The Malaysian government guarantees these instruments. It also affirmed the issuer rating of Petronas at A1 in May, and recently assigned a positive outlook to the global integrated oil and gas sector.

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Reading Time: 1 minute

Moody’s Investors Service has affirmed Malaysia’s government bond and issuer ratings at A3, but has changed the outlook to positive from stable. The international ratings agency said on November 20 the change in the outlook was driven by “improved prospects for fiscal consolidation and reform and continued macroeconomic stability in the face of external headwinds”.

Reading Time: 1 minute

moodys-genericMoody’s Investors Service has affirmed Malaysia’s government bond and issuer ratings at A3, but has changed the outlook to positive from stable. The international ratings agency said on November 20 the change in the outlook was driven by “improved prospects for fiscal consolidation and reform and continued macroeconomic stability in the face of external headwinds”.

Moody’s said it had also affirmed Malaysia’s long-term foreign currency bond ceiling at A1 and its long-term foreign currency bank deposit ceiling at A3. The short-term foreign currency bond and bank deposit ceilings were affirmed at P-1.

The agency said these ceilings act as a cap on ratings that can be assigned to the FC obligations of entities other than the government that are domiciled in the country. Moody’s also affirmed the local currency country risk ceiling at A1.

In a related rating action, Moody’s affirmed the instrument ratings of Khazanah Nasional Bhd at A3, and revised the outlook to positive from stable. The Malaysian government guarantees these instruments. It also affirmed the issuer rating of Petronas at A1 in May, and recently assigned a positive outlook to the global integrated oil and gas sector.

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