S&P lowers Petronas, Telekon Malaysia outlooks to stable

Standard & Poor's said it revised its outlook on the foreign currency corporate credit ratings for Petroliam Nasional Bhd.'s (Petronas) and Telekom Malaysia Bhd. to stable from positive.

At the same time, S&P said it affirmed all the credit ratings on the two companies.

The ratings on Petronas (foreign currency A-/stable, local currency A+/stable) are highly influenced by Malaysia's sovereign rating due to the company's full government ownership and Petronas' role in managing the country's oil and gas sector and implementing the national energy policy, the agency added.

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