Minister of Finance and Treasury Ahmed Munawar has refuted rumours spread in social media regarding the credit rating given to Maldives by Moody's Investors Service.
Expressing concern over rumours spread in social media saying Moody's Investors Service has decreased the credit rating for Maldives, Finance Minister Ahmed Munawar stated Moody's did not reduce the credit rating and has in fact decided to maintain the ratings of 2016.
Moreover, the finance minister stated even though the outlook was changed to negative, Moody's did not reduce the overall ratings. The outlook does not define whether the ratings will be decreased in the future or not, further revealed Minister. Furthermore, the minister noted some media agencies are depicting the wrong translation of certain technical terms and called on to provide clear information.
Moody's Investors Service provides international financial research on bonds issued by commercial and government entities. Moody's is considered as one of the biggest credit rating agencies in the world.