Sovereign

MARC Ratings has assigned a sub-sovereign credit rating of AA+ with a stable outlook to the state of Perak, based on the rating agency’s sub-sovereign rating scale. The rating is unsolicited. This rating reflects Perak’s prudent fiscal management, its commitment to strategic, development-oriented spending, and a commendable low debt burden, all of which are significantly …

MARC Ratings assigns sub-sovereign rating of AA+ to Perak Read More »

MARC Ratings has assigned an unsolicited sub-sovereign credit rating of AAA with a stable outlook to the state of Johor. This rating reflects Johor’s resilient and expanding economy, persistent fiscal surpluses, exceptionally low debt levels, and stable political environment that underpins its long-term development trajectory. Johor holds a significant position in Malaysia’s economy, contributing RM148.2 …

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MARC Ratings has affirmed its public information sovereign rating on Malaysia at AAA with a stable outlook based on its national rating scale. The AAA rating reflects the country’s credit strengths, which include an open and increasingly diversified economy, steady economic growth, effective monetary policies and a resilient financial sector. In 2024, Malaysia’s gross domestic …

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MARC Ratings has affirmed Terengganu’s sub-sovereign credit rating at AA- with a stable outlook based on the rating agency’s sub-sovereign rating scale. The rating reflects Terengganu’s healthy fiscal position, supported by its low debt levels, and substantial oil and gas resources. Terengganu has steadily reduced its debt, supported by the federal government’s strategic decision to …

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MARC Ratings has affirmed the State of Kuwait’s sovereign credit rating at AAA with a stable outlook based on the rating agency’s national rating scale. The rating reflects Kuwait’s strong fiscal and external balance sheets, underpinned by its strong position in the global oil market. Kuwait ranked as the fifth-largest Organization of the Petroleum Exporting …

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MARC Ratings has affirmed Sabah’s sub-sovereign credit rating at AAA with a stable outlook based on the rating agency’s sub-sovereign rating scale. The AAA rating reflects Sabah’s substantial fiscal buffers, high revenue base from its abundant natural resources and strong institutional framework. Sabah’s fiscal surpluses have led to consolidated funds reaching RM5.4 billion in 2022 …

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MARC Ratings has affirmed the People’s Republic of China’s (China) sovereign rating at AAA with a stable outlook based on its national rating scale. The AAA rating reflects several credit strengths that include the country’s large, diversified and internationally competitive economy, proactive fiscal and monetary approaches, and robust external position. As the world’s second-largest economy, …

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MARC Ratings has affirmed its public information sovereign rating of AAA/Stable on Malaysia based on its national rating scale. The AAA rating reflects the country’s credit strengths, including a competitive and diversified economy that has maintained a relatively steady growth trajectory. Malaysia has consistently posted a current account (CA) surplus, which contributes to a stable …

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MARC Ratings has affirmed the State of Kuwait’s (Kuwait) foreign currency sovereign rating of AAA/Stable based on its national rating scale. The rating reflects Kuwait’s significant fiscal and external buffers. These credit strengths are, however, balanced by credit concerns that include its heavy reliance on the oil sector, political tensions that continue to affect policymaking, …

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MARC Ratings has affirmed its foreign currency sovereign rating of AAA/stable on the Republic of Singapore (Singapore) based on its national sovereign rating scale. The AAA rating reflects a number of Singapore’s strengths, including having a dynamic and competitive economy underpinned by strong economic policy frameworks and effective institutions. Singapore’s success as a global business …

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