1MDB a small issue involving one firm, says Treasury

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KUALA LUMPUR (Mar 19): 1Malaysia Development Bhd (1MDB) is a small issue involving one company, which is current undergoing a restructuring process, Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah told Bernama today.

Irwan was responding to a question on Fitch Rating's possible downgrade of the country's rating, which currently stood at A-, due to 1MDB's financial position.

"The company is undergoing restructuring and the Auditor-General is auditing it, so we will wait for the results.

"On the government's part, we will help in the restructuring process of 1MDB," he told Bernama on the sidelines of the 1Asean Entrepreneurship Summit 2015 (1AES) in Kuala Lumpur.

Yesterday Bernama reported that MIDF Research head Zulkifli Hamzah had said Fitch Ratings' negative outlook for Malaysia was nothing new but it did not seem in tune with other rating agencies.

Another rating agency, Moody's Investors Service, had recently affirmed the government bond and issuer ratings of Malaysia at A3, with a positive outlook.