MP SPEAKS | Local companies paying the price sovereign rating downgrade

MP SPEAKS | Fitch Ratings decision to downgrade the international credit ratings for both Petroliam Nasional Bhd's (Petronas) and Telekom Malaysia Bhd demonstrates the adverse consequences of the earlier downgrade of Malaysia's sovereign credit rating to 'BBB+' from 'A-'.

This is the price to be paid by Malaysian companies for Malaysia's downgrade, together with the accompanying loss of investor confidence.

However, the people will pay an even higher price if...