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RAM Ratings reconfirms TNB's ratings
Published on: Tuesday, April 24, 2018

Kuala Lumpur: RAM Ratings has reaffirmed the respective AAA/Stable ratings of Tenaga Nasional Bhd's US$500 million-equivalent Murabahah MTN Programme (2005/2025) and RM5 billion Islamic MTN Sukuk Wakalah Programme (2017/2067) (Sukuk Wakalah).

In a statement here, the rating agency said the reaffirmations were premised on the group's strategic position as Malaysia's national electricity company and its continued strong performance.

"Based on our rating methodology for government-linked entities, TNB is highly likely to receive extraordinary government support in the event of financial distress.

"This is given its role that is deemed critical to the nation and the group's very strong relationship with the government," it added.

Meanwhile, TNB's adjusted gearing ratio as at end-financial year August 2017 and funds from operations debt coverage in fiscal 2017 stayed strong at a respective 1.11 times and 0.27 times. – Bernama


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