Penang Chief Minister Lim Guan Eng said Moody’s Investors Service has 'downgraded' and not 'changed the outlook to stable' Malaysia’s bond ratings at A3.

He criticised newspapers, targeting, The News Straits Times , for saying that Moody 'changed the outlook to stable from positive'.

“It was clearly a downgrade and lowering of ratings,” he told a press conference at his office in Komtar, George Town, today.