Moody's rates Malaysia sukuk A3

Moody's Investors Service said it assigned definitive A3 senior ratings to the dollar trust certificates ("sukuk") issued by Malaysia Sovereign Sukuk Bhd., a special purpose vehicle established by Malaysia.

The A3 rating assigned to the sukuk is at the same level as the long-term local-currency and foreign-currency issuer ratings of Malaysia.

In January, Moody's affirmed Malaysia's sovereign bond rating at A3 and maintained the outlook at positive. The agency said the key drivers of the decision were the government's intention to adhere to its policy of deficit reduction and Malaysia's fundamental strengths, notably macroeconomic stability, domestic capital market depth and predominantly local currency-denominated debt that provide a considerable amount of resistance to an adverse external economic environment and global financial market volatility.

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