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The State of the Nation: Fitch’s downgrade of Malaysia sparks fiery debate
The Edge
21/12/2020
Supriya Surendran
© Provided by The Edge
FITCH Ratings’ downgrade of Malaysia’s Long Term Foreign-Currency Issuer Default Rating (IDR) to “BBB+” from “A-”, has ignited a firestorm of comments, with everyone from politicians to economists providing their proverbial two cents worth on the matter.
More concerning, however, is whether other rating agencies are likely to follow in Fitch’s footsteps, analysts say, warning Malaysia needs to get down to brass tacks and detail how it intends to shrink its massive debts and consolidate its finances post Covid-19, and demonstrate a commitment to institutional reforms to avert another downgrade. ....

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