RAM Ratings said the upgrade reflects sustained improvements in YTL Corp’s operating and financial profile.
PETALING JAYA: RAM Ratings has upgraded the long-term rating of YTL Corp Bhd
’s debt programmes. Concurrently, the outlook on the facilities has been revised to stable from positive.
The short-term rating remains at P1.
The rating agency said the upgrade reflects sustained improvements in YTL Corp’s operating and financial profile, underpinned by stronger performance across its core investments.
It said the group’s return on capital employed has improved to between 8% and 10% over the past two years from about 5% previously, supported by resilient earnings from its regulated utilities, cement, hospitality and property businesses, alongside strong liquidity and financial flexibility.
RAM Ratings also upgraded the long-term ratings of YTL Power International Bhd’s sukuk programmes. The outlook has been revised to stable from positive.
