Fitch rating reflects M’sia’s strong fundamentals, says Najib

Najib RazakKUALA LUMPUR: Prime Minister Najib Razak said today the “A-” rating for Malaysia with stable outlook, maintained by Fitch Ratings, is a reflection of the country’s strong economic fundamentals.

“This is again a reflection of our strong economic fundamentals,” said Najib, who is also finance minister, in his latest tweet at @NajibRazak.

Fitch Ratings has affirmed Malaysia’s long-term foreign and local-currency issuer default ratings (IDRs) at “A-” with stable outlook, reflecting the country’s strong net external creditor position.

The credit ratings agency said the real gross domestic product (GDP) growth also remained stronger than the median of “A” rated peers and a current account that was still in surplus although it had been narrowing.

It also affirmed Malaysia’s senior unsecured foreign and local-currency bonds at “A-” and “F1”, while the short-term local-currency issuer default rating (IDR) at F1.