KUALA LUMPUR: Moody’s Investors Service on Monday downgraded Malaysia’s sovereign outlook from ‘positive’ to ‘stable’, citing deepening economic woes from falling oil prices and global economic uncertainty. In a statement, the ratings agency said the country faced slowing growth and world market factors that have ‘undermined Malaysia’s external position, with large capital outflows, a falling current account surplus, sharp exchange rate depreciation and falling reserves’. Malaysia’s economic outlook has been a source of major concern since oil prices plunged in 2014. Exports of oil and natural gas are a major source of earnings for the country. The trouble has been compounded by a financial scandal involving PM Najib Razak, which has further rattled the country’s markets. The situation caused the ringgit to plummet, making it the worst-performing Asian currency last year.