Sovereign

MARC Ratings has affirmed the People’s Republic of China’s (China) sovereign rating at AAA with a stable outlook based on the rating agency’s national rating scale. This is an unsolicited rating based on public information. The AAA rating reflects China’s large, diversified, and internationally competitive economy, strong external position, and advanced policy execution capacity. China […]

MARC Ratings has affirmed the state of Selangor’s sub-sovereign credit rating at AAA with a stable outlook. This is an unsolicited rating based on public information. The rating reflects the state’s excellent economic scale within Malaysia, diversified economic structure, low debt burden, healthy financial reserves and favourable socioeconomic profile. Selangor remains Malaysia’s largest state economy,

MARC Ratings has affirmed Sarawak’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 Sarawak’s fiscal flexibility, substantial consolidated funds that provide exceptional debt coverage, and strong political representation. Sarawak’s revenue as a percentage of

MARC Ratings has affirmed its unsolicited public information sovereign rating on Malaysia at AAA with a stable outlook based on the rating agency’s national rating scale. The AAA rating reflects Malaysia’s credit strengths, including an open and increasingly diversified economy, sound monetary policy, a resilient financial sector, and continued progress in structural and institutional reforms.

MARC Ratings has assigned an unsolicited sub-sovereign credit rating of AAA with a stable outlook to the state of Penang. The rating reflects Penang’s low debt burden, dynamic economy anchored by high value–added sectors, resilient labour market supported by sustained investment inflows, and stable political environment. Penang has one of the most dynamic economies in

MARC Ratings has affirmed the People’s Republic of China’s (China) sovereign rating at AAA with a stable outlook based on the rating agency’s national rating scale. This is an unsolicited rating based on public information. The AAA rating reflects several credit strengths, including the nation’s competitiveness in the global supply chain, robust external position, and

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 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 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 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