Fitch ups Malaysia view to positive

Fitch Ratings said it affirmed Malaysia's A- long-term foreign-currency issuer default rating and revised the outlook to positive from stable. The agency also said it affirmed the long-term local-currency issuer default rating at A+, short-term foreign-currency issuer default rating at F2 and country ceiling at A.

The ratings are supported by Malaysia's strong balance of payments surplus and rising external assets, the agency said. Fitch said it believes the country remains firmly on the path of gradual transformation towards a more efficient, private sector-led economy.

There are some concerns about lower export growth forecast in 2008, a slowdown in the global economy and loss in the country's export competitiveness, Fitch said.

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