Moody’s affirms PLL’s rating with stable outlook

KUALA LUMPUR: Moody’s Investors Service has affirmed the foreign and local currency issuer ratings of PETRONAS LNG Ltd (PLL) of Baa1 and maintained its stable outlook.

The rating affirmation reflected PLL’s full ownership by Petroliam Nasional Bhd (PETRONAS, A2 stable) as well as its strong operational and financial integration with its parent.

“The close linkages support our positioning of PLL’s Baa1 ratings at two notches below the A2 ratings of its ultimate parent,” said its assistant vice-president and analyst Hui Ting Sim in a statement. PLL is wholly owned by PETRONAS which is in turn wholly owned by the government (A3 stable).She noted that PETRONAS has a firm track record of providing financial support to PLL. — Bernama