Moody's changes Petronas's ratings outlook to negative
Published on: Saturday, November 10, 2018
Kuala Lumpur: Moody's Investors Service has changed Petroliam Nasional Bhd (Petronas) LNG Ltd.'s (PLL) ratings outlook to negative from stable.In a statement on Friday, Moody's Assistant Vice-President and Analyst Rachel Chua said the change of rating outlook for PLL was based on the ratings outlook for PLL's ultimate parent, Petronas yesterday."PLL is ultimately 100 per cent owned by Petronas, Malaysia's national oil company, which is in turn wholly-owned by the Malaysian government (A3 stable)," she said.
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Chua said given the negative ratings outlook, a ratings upgrade is unlikely."Moody's will revise PLL's ratings outlook to stable from negative only if Petronas' ratings outlook is stabilised," she said.Stay up-to-date by following Daily Express’s Telegram channel.
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