Sovereign

MARC Ratings has affirmed the state of Perak’s sub-sovereign credit rating at AA+ with a stable outlook. This is an unsolicited rating based on public information. The affirmed rating reflects Perak’s sound fiscal position, relatively high development expenditure, low debt burden and healthy consolidated funds position. Perak demonstrates fiscal discipline, maintaining a broadly balanced fiscal […]

MARC Ratings has affirmed the state of Johor’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 disciplined fiscal management, sizeable economy that is broadening into higher value–added activities, and stable political environment. Johor is one of Malaysia’s largest state economies,

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