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Nikkei Markets

S&P keeps Malaysia's rating at A-, Outlook stable

Economic growth, fiscal performance of new government to guide rating revision

Mahathir Mohamad led the opposition coalition to a shock election victory last month on the back of several populist pledges.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Standard & Poor's Friday kept Malaysia's sovereign credit rating at investment grade A- with stable outlook, citing strengths such as robust economy that mitigates risks from elevated debt burden and evolving fiscal policy.

The Southeast Asian nation will likely meet its budget deficit target of 2.8% of gross domestic product this year, the ratings agency said in a statement. Annual economic growth is expected to average 5.1% from 2018 to 2021 backed by private consumption, investment, and exports, it said.

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