“The stable outlook on Tenaga reflects our expectation that the company will maintain its adjusted FFO-to-debt ratio at over 15% on a sustainable basis over the next 12-18 months. We anticipate that Tenaga will be able to pass on any under- or over-recovery of fuel costs through tariff adjustments, ” it said.
KUALA LUMPUR: S&P Global Ratings has affirmed the 'BBB+' ratings with a stable outlook for Tenaga Nasional Bhd
as it expects the power giant's financial profile to remain supported by regulated revenues with limited demand risk.
“However, we expect Tenaga's financial leverage, as measured on an adjusted funds from operations (FFO) to debt basis, to dip to about 15% in 2020, from 16% in 2019. We estimate the ratio will recover and remain at around 16% from 2021, ” it said.
Limited time offer:
Just RM5 per month.
