Moody’s withdraws Petronet CFR, gives Baa3 issuer rating

Moody's Investors Service said it withdrew Petronet LNG Ltd.’s Baa3 corporate family rating and assigned it a Baa3 issuer rating.

The outlook was revised to positive from stable.

The action reflects the reduced level of subordination risk for Petronet’s senior unsecured lenders.

"The change in outlook to positive considers the enhancement in the company's credit metrics and liquidity because of the improvement in its operating performance and the commissioning of new capacity at its Dahej Terminal," Moody's vice president and senior credit officer Vikas Halan said in a news release.

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