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

Muhibbah is shaping up to be a big beneficiary of Petronas' move, via the Refinery and Petrochemical Integrated Development (RAPID) project., to venture downstream.

PETALING JAYA: 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.