Rating action          MARC Ratings has affirmed Sabah’s sub-sovereign credit rating of AAA with a stable outlook, based on its sub-sovereign rating scale.  Rationale The rating reflects, to a significant extent, Sabah’s natural resource wealth, with the agricultural and mining sectors collectively accounting for 38.5% of the state’s gross domesti...

MARC has assigned a sub-sovereign credit rating of AAA with a stable outlook to the state of Sabah.  The rating reflects Sabah’s resource riches, relatively strong fiscal position and liquidity buffer. Contributing about 18% towards Malaysia’s overall primary sector output, Sabah has consistently generated fiscal surpluses even during major global crises. According to the latest available...