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Sukuk issue won’t affect Tenaga ratings

Posted on 21 October 2011

Standard & Poor’s Ratings Services said today that its rating on Tenaga Nasional Bhd. (BBB+/Stable/–, axA+/axA-1) is unaffected by a proposed Malaysian ringgit (MYR) 5 billion sukuk issue. Our rating already factors in the likelihood that Tenaga will incur higher debt to fund a planned 1,000 megawatt supercritical coal-fired power plant.
We will further assess the impact of increased debt after the company releases its audited accounts for the full year ended Aug. 31, 2011. The results are expected in November 2011……………………………………….Full Article: Source

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