Standard & Poor’s is best known for stock market indices such as the US-based S&P 500 and for its credit ratings, competing against Moody's Investors Service and Fitch Ratings. Rating agencies came under fire for issuing top ratings to pools of mortgages which included subprime loans and in February 2013, the US Justice Department filed a civil lawsuit against S&P, seeking US$5 billion in civil damages.
By Sangeetha Amarthalingam
Escaping the middle income trap would continue to be a challenge for Malaysia, S&P Global Ratings said, adding that the modest income levels and vulnerability to global economic conditions constrain the country’s economic resilience.
