Moody's upgrades Malaysia's Petronas' long-term debt rating
Asian Economic News, Oct 23, 2000
HONG KONG, Oct. 17 Kyodo
Moody's Investors Service Inc. on Tuesday upgraded the long-term debt rating for global bonds, yen bonds and notes of Malaysia's Petroliam Nasional Bhd. (Petronas) to Baa2 from Baa3.
The upgrade of the state oil firm was made in conjunction with the raising of Malaysia's foreign currency country ratings by the U.S.-based rating agency announced earlier Tuesday.
Petronas' ''debt ratings are constrained by Malaysia's sovereign foreign currency ceiling,'' Moody's said in a statement.
The company's rating outlook is stable, the agency said.
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