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Moody's: No change for Malaysia
Moody's Investors Service said its A3 sovereign bond rating for Malaysia and its stable outlook remain unaffected by the outcome of the country's March 8 elections, which resulted in a sharper-than-expected drop in support for the ruling Barisan Nasional coalition.
The financial market turbulence that followed the election outcome should not affect Malaysia's credit fundamentals, Moody's said.
The government's ratings reflect the country's strong growth and external payments position, the agency said, as well as its high savings rate and relatively well-developed regulatory and financial institutions.
However, some of these strengths have been supported by a sustained, pro-cyclical fiscal policy that has kept key government debt ratios above those of Malaysia's peers, Moody's added.
The new political dynamic may lead to a policy shift, but the agency said it's too early to tell.
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