Moody’s: Sarawak’s Baa1 rating under rating

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SarawakMoody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds were needed for the infrastructural progress of the Sarawak Corridor of Renewable Energy (SCORE).

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Reading Time: 1 minute

Moody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds were needed for the infrastructural progress of the Sarawak Corridor of Renewable Energy (SCORE).

Reading Time: 1 minute

SarawakMoody’s Investors Service has placed Sarawak’s Baa1 issuer rating under review, supported by the state’s strong record of sound financial performance and increasing budget flexibility provided by its accumulation of growing reserves. The generation of operating and financing surpluses has also contributed to its elevating levels of reserves. It is a reflection of robust growth in commodity-related revenue, and good fiscal management of conservative budget projections and tight control over stable and predictable operating expenditure. Though financing surpluses were in excess of 20 percent in most of 2004 to 2010, the state’s debt burden rose sharply in 2011 as funds were needed for the infrastructural progress of the Sarawak Corridor of Renewable Energy (SCORE).

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