S&P affirms Petronas

Standard & Poor's said it affirmed its ratings on Petroliam Nasional Bhd. (Petronas, foreign currency A-/stable, local currency A+/stable).

The outlook is stable.

S&P said it also affirmed its A- rating on all foreign currency senior unsecured debt issued by Petronas and its subsidiary Petronas Capital Ltd.

The agency noted that the rating affirmation on Petronas reflects its excellent financial profile, due to robust cash flow generation that has been supported by firm product prices in recent years.

S&P added that the ratings on Petronas reflect exclusive ownership and control over Malaysia's large hydrocarbon resources and low-cost integrated domestic operations.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.