PETALING JAYA: Petroliam Nasional Bhd’s (Petronas) proposal to raise debt through a sukuk issue – one of the biggest this year – is deemed “opportunistic”, says Standard & Poor’s Rating Services (S&P).
Corporate ratings director Xavier Jean said that Petronas had been a financially conservative company and could leverage on its strong stand-alone credit rating and cash pile of RM128bil to get a competitive rate from the latest round of debt funding.
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