TNB ratings unchanged

Positive development: A view of TNB headquarters in Kuala Lumpur. S&P said the company’s failed bid for 1MDB’s power assets under Edra had reduced the prospect of a weaker capital structure. — Reuters

PETALING JAYA: The credit ratings and outlook on Tenaga Nasional Bhd (TNB) remain unchanged despite the national utility company’s failure to take over the power unit of 1Malaysia Development Bhd (1MDB), says Standard & Poor’s Ratings Services (S&P).

The international credit rating agency, which had ratings of BBB+ and axA/axA-1 and a stable outlook on TNB’s bonds, said the latter’s failed bid for 1MDB’s power assets under Edra Global Energy Bhd had reduced the prospect of a weaker capital structure.