Moody’s lowers Petronas’ ratings after revising its methodology
The Petronas twin towers is seen behind the company corporate logo in Kuala Lumpur on May 13, 2011. — AFP pic
In a statement today, the global rating agency said the national oil company’s credit metrics remain strong but the lower ratings were due its revised cross-sector methodology. Moody’s senior vice president Vikas Halan said the close credit linkages between the government of Malaysia and Petronas cannot, under the revised methodology, support a rating for Petronas that is two notches higher than the Malaysian sovereign.
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