Malaysia’s outlook now ‘stable’ says Fitch

KUALA LUMPUR: Credit ratings agency Fitch surprised analysts by upgrading Malaysia’s sovereign outlook to “stable” from “negative,” boosting the country’s currency on Wednesday and providing welcome relief to the country’s controversy-plagued government.

In a statement just before midnight on Tuesday, Fitch affirmed the country’s credit rating at “A-”, the fourth-lowest investment rating, and said Malaysia’s fiscal finances had improved since 2014, citing progress on a newly-introduced consumption tax and fuel subsidy reforms.