1MDB claims it has hand in Fitch's upgrade of KL's outlook

Kuala Lumpur

MALAYSIA's debt-laden 1MDB had played a part in securing Fitch Ratings' affirmation of the sovereign's long-term foreign currency A-rating with a stable outlook, a top official of the government-owned strategic development firm implied on Thursday.

Its president and group executive director Arul Kanda said in a statement that 1MDB had had talks with Fitch in advance of the upgrade; the company's current situation was discussed, and assurance was given on the reparative measures being taken.

"We were open about the challenges we face, outlined our efforts to reduce the company's debts as presen…