Moody's: Petronas unaffected

Moody's Investors Service said Petronas' A1 issuer and senior unsecured ratings are not affected by the company's announcement that it will acquire Progress Energy Resources Corp.

According to Moody's, the transaction will be funded from the company's internal funds.

"Despite the large size of the acquisition and subsequent development costs, Petronas has significant financial flexibility within its ratings, including low leverage, very strong cash flow generation, and robust liquidity," said Simon Wong, a Moody's vice president and senior analyst, in a news release.

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