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Bulletin: Ratings On Petronas And Tenaga Unaffected By Proposed Cuts To Gas Prices And Electricity Tariffs Feb 09
Standard & Poors, Feb 2009
Abstract
SINGAPORE (Standard & Poor's) Feb. 12, 2009--Standard & Poor's Ratings Services said today that there is no immediate impact on its corporate credit ratings on Petroliam Nasional Bhd. (Petronas, foreign currency A-/Stable/--; local currency A+/Stable/--) and Tenaga Nasional Bhd. (Tenaga, BBB/Stable/--) from the proposed reductions in (1) prices for gas supplied by Petronas to the electrical and industrial sectors, and (2) electricity tariffs for industrial and commercial consumers. Although Malaysia?s proposed gas price cuts increases Petronas' expected subsidies to the power and industrial sectors in the short to medium term, we expect Petronas to maintain its strong credit profile. Petronas' stand-alone profile is much better than the sovereign's. However, it remains sensitive to government support and action. For Tenaga, Standard...
Companies mentioned in this report are: Petroliam Nasional Bhd.,Tenaga Nasional Bhd.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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