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Moody’s raises M’sia’s outlook to positive from stable

Posted on November 21, 2013, Thursday

KUALA LUMPUR: Moody’s Investors Service has affirmed Malaysia’s government bond and issuer ratings at A3.

The outlook has been changed to positive from stable.

The international ratings agency said 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 in a statement yesterday that it had also affirmed Malaysia’s long-term foreign currency (FC) bond ceiling at A1 and its long-term FC bank deposit ceiling at A3.

The short-term FC bond and bank deposit ceilings were affirmed at P-1.

It 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.

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.

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