Moody’s affirms MISC

Moody's Investors Service said it affirmed the Baa2 issuer rating of MISC Bhd.

The outlook is stable.

"The Baa2 issuer rating balances MISC's operational alignment with its parent Petroliam Nasional Bhd. (Petronas, A1 stable), its conservative financial policies and increasing exposure to long-term charters in its tanker and offshore businesses against its exposure to the highly volatile oil and gas shipping sector, which is currently pressuring MISC's earnings and cash flows," Brian Grieser, Moody's vice president and senior credit officer, said in a news release.

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