Moody's pulls rating on US$1.75b 1MDB notes

Kuala Lumpur

MALAYSIA'S troubled 1MDB has downplayed international ratings agency Moody's withdrawal of the Aa2 rating on its US$1.75 billion unsecured notes as "undertaken without a downgrade", noting that Standard and Poor's AA rating on the papers remains unchanged.

Even so, industry executives were of the view that Moody's Investors Service (MIS) was concerned about the potential impact to its reputation given the continuing and widespread global investigations into the controversial state-owned development fund.