S&P turns Petronas view to stable

S&P said it revised its outlook for Petroliam Nasional Bhd. (Petronas) to stable from negative for the foreign- and local-currency long-term ratings.

“Our outlook revision on the sovereign rating triggered the same action on Petronas. The outlook revision on the sovereign rating reflects our expectation that Malaysia's steady growth momentum and strong external position will remain in place over the next two years,” S&P said in a press release.

The agency also affirmed Petronas’ A local-currency and A- foreign-currency long-term issuer credit ratings. Additionally, S&P affirmed the A- foreign-currency issue ratings on the notes and sukuk trust certificates Petronas has issued or guarantees.

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