Fitch says does not expect 1MDB to have immediate negative impact on Malaysia ratings

April 27, 2016 6:49 AM

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SINGAPORE, April 27 Rating agency Fitch said on Wednesday it does not expect that the developing situation at 1Malaysia Development Bhd (1MDB) will have an immediate negative impact on Malaysia's sovereign ratings.

The statement came after 1MDB said on Tuesday it did not pay a $50.3 million coupon on a $1.75 billion bond following a stand-off with Abu Dhabi sovereign fund IPIC, triggering cross defaults on some of its other bonds.

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