Rating downgrade on Petronas will not affect company, says Mahathir

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KUALA LUMPUR: The recent downgrade of Petroliam Nasional Bhd’s (Petronas) domestic issuer and foreign currency senior unsecured ratings by Moody’s Inv...

Prime Minister Mahathir Mohamad at the 20th Asia Oil and Gas Conference 2019 opening ceremony, — BernamaThe recent downgrade of Petroliam Nasional Bhd’s domestic issuer and foreign currency senior unsecured ratings by Moody’s Investors Service is not expected to affect the national oil and gas company.instead downplayed the downgrade, claiming assessments made by rating agencies were not always accurate.

“But from what we see, I am confident the downgrade won’t affect Petronas,” he told reporters after attending the 20th Asia Oil and Gas Conference 2019 opening ceremony, here, today. The rating agency added that Petronas’ ratings could face downward pressure if there were unexpected changes to the country’s policy for the oil and gas sector that result in a significant decline in its reserves and oil and gas entitlement.

 

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