S&P says oil price revision won’t immediately impact Petronas ratings


Eventually, perhaps. I wonder how Khazanah and PETRONAS interact?

Dateline 2016-01-22, The Star:

Standard & Poor’s Ratings Services says its recent revision of its oil price assumptions won’t immediately affect the ratings outlook of Petroliam Nasional Bhd’s (Petronas).

The international ratings agency said on Friday its revisions were US$40 per barrel of Brent crude in 2016 and US$45 in 2017.

However, it stated the recent revision of its oil price assumptions would not have an immediate impact on Petronas (foreign currency A-/Stable/–; local currency A/Stable/–; axAAA/–).

“We expect Petronas to maintain its critical policy role for Malaysia, its large  direct and indirect contribution to the country’s budget, and its integral link with the Malaysian government through full state ownership,” it said.

 

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