S&P Global revises rating outlook on Petronas to stable

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PETALING JAYA: S&P Global Ratings has revised its rating outlook on Petroliam Nasional Bhd (Petronas) to "stable” from "negative” for foreign and local currency long-term ratings.

S&P said it may lower the rating on Petronas if it lowers its sovereign rating on Malaysia.“We could also downgrade Petronas if its relationship with the sovereign changes materially and the company’s balance sheet and liquidity weaken significantly.“We view this scenario as remote because it would require a substantial deterioration in the company’s aa SACP,” it said.

The outlook revision on the sovereign rating reflects our expectation that Malaysia’s steady growth momentum and strong external position will remain in place over the next two years.

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Author / Journalist: The Star Online

Category: Economy

Topics: Energy Corporate News Petronas /Business/Business News Sovereign Upgrade Rating

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-29, 00:00:00

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Reading Time: 3 minutes read

Article Length: 387 words

Coverage Area: Malaysia

Availability: Desktop Web, Mobile Web

News ID: 19292

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About The Star Business

Main Topics: Economy

Official Website: thestar.com.my

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Year Established: 1971

Headquarters: Malaysia

News Last Updated: 11h ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

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Publisher ID: #22

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