KUALA LUMPUR: RAM Rating Services Bhd lifted the Ratings Watch (with a negative outlook) of Malakoff Corp Bhd’s private debt securities (PDS) totalling RM7.9bil on Friday.
The ratings agency said the decision to lift the Rating Watch was after the government abolished the windfall profit levy on independent power producers (IPPs) in exchange for a one-off payment equivalent to an amount that is payable for one year.
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