Moody’s review of Petronas’ ratings to hinge on capex

Dateline 2016-02-24, The Star:

Moody’s Investors Service’s review of Petroliam Nasional Bhd’s (Petronas) rating will focus on whether the management plans any reduction in its capital expenditure (capex), operating expenditure and dividends.

The ratings agency said yesterday that its review would also look into how Petronas, which is a national oil company (NOC), manages its level of borrowings.

It pointed out that Petronas (A1) has maintained a financial profile that has been strong for its rating, while the sovereign’s rating was A3 Stable.

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