ID :
373178
Thu, 07/02/2015 - 06:02
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JP Morgan: Revised Fitch Outlook Is Positive For Malaysia

KUALA LUMPUR, July 2 (Bernama) -- Financial services firm J.P. Morgan views Fitch Ratings affirmation of Malaysia's credit rating at A- and the raising of its sovereign rating outlook to "stable" as a positive development for the country and its economy. It said J.P Morgan as the sovereign's joint ratings advisor believes that the revised outlook correctly reflects the numerous fiscal reform efforts such as the successful removal of fuel subsidies and the implementation of the Goods and Services Tax (GST). "In our view, the improved outlook puts to rest any concerns that the debt and equity markets may have about a potential downgrade," J.P. Morgan Malaysia chief executive and senior country officer Steve Clayton said in a statement. He said it is important that the country stays the course on fiscal reforms. -- BERNAMA

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