I’m not really concerned with credit ratings agencies, says Daim

KUALA LUMPUR, May 18 — Former finance minister Tun Daim Zainuddin said he is not bothered by the possible downgrade of the country’s credit rating.

Citing the economic situation in the United States as an example, the Council of Eminent Persons member said credit rating agencies are free to give their assessment but it may not reflect the actual situation.

“I’m not really concerned about anything the credit rating agencies say. In 1998, they downgraded us also,” he told a press conference at Ilham Tower here.

“Just see what happened in America, they are given high rating but still… subprime loan. Don’t worry about them. In fact, you should not even worry about the discussions that the think-tanks are having here.”