Sovereign

MARC Ratings has affirmed its sub-sovereign credit rating of AA- with a stable outlook on the state of Terengganu, based on the rating agency’s sub-sovereign rating scale. This rating is unsolicited and based on publicly available information. Terengganu’s rating is underpinned by the continued strength in its downstream oil and gas industries, namely refined petroleum …

MARC Ratings affirms sub-sovereign rating of AA- on Terengganu Read More »

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. This is an unsolicited rating based on public information. The affirmation reflects Sabah’s continued fiscal strength, underpinned by substantial natural resource wealth which contributes to the state’s revenue, sizeable fiscal buffers, and strong …

MARC Ratings affirms Sabah’s sub-sovereign rating at AAA Read More »

MARC Ratings has assigned a sub-sovereign credit rating of AA- with a stable outlook to the state of Kedah, based on the rating agency’s sub-sovereign rating scale. This is an unsolicited rating based on public information. Kedah’s rating is underpinned by its rising economic growth potential, supported by an expanding industrial base, and generally prudent …

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

MARC Ratings has assigned an unsolicited sub-sovereign credit rating of AAA with a stable outlook to the state of Selangor. The rating reflects the state’s robust and sizeable economy, low debt burden, healthy reserves, and strong socioeconomic fundamentals, all of which underpin its long-term development trajectory. Selangor contributed RM406.1 billion, or 25.9%, to Malaysia’s real …

MARC Ratings assigns sub-sovereign rating of AAA to Selangor Read More »

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 …

MARC Ratings assigns sub-sovereign rating of AAA to Johor Read More »

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 …

MARC Ratings affirms Malaysia’s sovereign rating at AAA Read More »

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 …

MARC Ratings affirms Terengganu’s sub-sovereign rating at AA- Read More »

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 …

MARC Ratings affirms Kuwait’s sovereign credit rating at AAA Read More »

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 …

MARC Ratings affirms Sabah’s sub-sovereign rating at AAA Read More »