S&P ups Malaysia, Petronas

Standard & Poor's said it raised its ASEAN regional scale rating on Malaysia to axAAA/axA-1+ from axAA+/axA-1.

The agency said it also raised its long-term ASEAN scale rating on Petroliam Nasional Bhd. (Petronas) to axAAA from axAA+.

S&P said these actions are a result of a slight recalibration at the top end of S&P's ASEAN rating scale.

At the same time, S&P said it also affirmed its global scale ratings on Malaysia and Petronas.

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