Fitch rates Petronas notes A

Fitch Ratings said it assigned Petronas Capital Ltd.'s dollar-denominated guaranteed notes and Petronas Global Sukuk Ltd.'s dollar-denominated trust certificates (sukuk) final ratings of A.

The Sukuk follows an Ijara structure and ranks pari passu with its existing senior unsecured debt, Fitch said. The proceeds will be used to purchase beneficial ownership of the assets of certain Petronas' wholly owned subsidiaries located in Malaysia.

The company is wholly-owned by the Malaysian government and its foreign-currency rating of A is constrained by the sovereign's country ceiling of A.

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