Standard & Poorâ€™s Ratings today kept Malaysiaâ€™s long-term foreign currency sovereign credit rating at A-, with a â€˜stableâ€™ outlook, saying allegations of graft involving debt-laden state fund 1MDB will not impede policymaking.
The agency also said it does not see the decline in energy prices affecting Malaysiaâ€™s long-term fiscal consolidation.
â€œThe countryâ€™s strong external position and fairly diverse economy can absorb some weakness in the oil and gas sector,â€ S&P said in a statement.
The agency last revised lower Malaysiaâ€™s outlook in 2008 while the countryâ€™s rating has been kept at A- since 2003.
S&Pâ€™s announcement comes on the back of Fitch Ratings decision earlier this month to revise its Malaysia outlook to â€˜stableâ€™.