MARC has affirmed its public information foreign currency sovereign rating of AAA/stable on Kuwait, based on its national rating scale. The rating reflects Kuwait’s stable economic system that is supported by large oil reserves, large financial buffers, as well as a strong external balance sheet. Its rating strengths are, however, tempered by the economy’s dependence on oil and weak governanc...

MARC has, based on its national rating scale, affirmed its public information foreign currency sovereign rating of AAA/stable on Singapore. The AAA rating reflects Singapore’s prudent macroeconomic management, strong fiscal and external positions, as well as credible governance and institutions. Its strengths are, however, moderated by its rapidly ageing population, which could pose challenges ...

MARC has affirmed Indonesia’s foreign currency sovereign rating of AA- with a stable outlook based on its national rating scale. The rating reflects MARC’s opinion of the sovereign’s ability to meet its foreign currency obligations in full and on time. The government of Indonesia has no debt rated by MARC. Economic resilience continues to be the biggest rating support. In 2017, economi...

MARC has affirmed South Korea’s foreign currency sovereign rating of AAA with a stable outlook based on the rating agency’s national rating scale. The rating reflects MARC’s opinion of the sovereign’s ability to meet its foreign currency obligations in full and on time, without respect to specific securities or payment obligations. The rating also serves as a country ceiling for ringgit-d...

MARC has affirmed Hong Kong Special Administrative Region of China’s (Hong Kong) foreign currency sovereign rating of AAA with a stable outlook based on its national rating scale. The rating and outlook reflect Hong Kong’s resilient and competitive economy, as well as strong fiscal and external positions. Its sovereign credit strengths are, however, tempered by property market risk and exposu...

MARC has affirmed the State of Kuwait’s (Kuwait) foreign currency sovereign rating of AAA with a stable outlook based on its national rating scale. The rating is underpinned by Kuwait’s substantial proven crude oil reserves. One of the world’s richest countries, it has one of the Middle East’s oldest and most financially stable economic systems. Thanks to oil revenue, which continues...

MARC has affirmed Indonesia’s foreign currency sovereign rating of AA- with a stable outlook based on MARC’s national rating scale. The rating reflects MARC’s opinion of the sovereign’s ability to meet its foreign currency obligations in full and on time. The rating also serves as a country ceiling for ringgit-denominated debt issued locally by issuers domiciled in Indonesia. Transfer and...

MARC has affirmed the Republic of Singapore’s foreign currency sovereign rating of AAA with a stable outlook based on its national rating scale. The rating reflects MARC’s opinion of the sovereign’s ability to meet its foreign currency obligations in full and on time. The government of Singapore has no debt rated by MARC. The rating also serves as a country ceiling for ringgit-denominated d...

MARC has affirmed Malaysia’s sovereign rating of AAA with a stable outlook based on its national scale. The AAA rating reflects MARC’s opinion on the sovereign’s ability to meet its local currency obligations. It represents the sovereign’s ordinal ranking of creditworthiness within the country and excludes foreign currency transfer and convertibility risks. It is based solely on an analys...

MARC has affirmed South Korea’s foreign currency sovereign rating of AAA with a stable outlook based on its national rating scale. The rating reflects MARC’s opinion of the sovereign’s ability to meet its foreign currency obligations in full and on time. The government of South Korea (GoK) has no debt rated by MARC. The rating also serves as a country ceiling for ringgit-denominated debt is...