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Thursday, April 26, 2012

Najib election bribes may cause credit rating downgrade

Najib's irresponsible splurging to bribe voters ahead of an impending general election risks first downgrading of Malaysia's credit rating in 15 years.

This was reported by Bloomberg which quoted several top rating companies saying unless Malaysia brings down its debt which may increase to 55.9%, they may cut Malaysia's credit rating. Malaysia statutory debt ceiling is only 55%.

See Election spending risks credit downgrade, say S&P and Moody’s

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