S&P rates Sarawak Energy A-

S&P said it assigned an A- issuer rating to Sarawak Energy Bhd.

“We expect SEB to maintain its critical role in providing electricity to Sarawak and maintain integral ties with the state government. The company will likely continue to play a pivotal role in meeting all the generation, transmission, and distribution (T&D) needs of Sarawak. It supports the state's drive toward 100% rural electrification and meeting the electricity needs of a developing economy, especially at the Sarawak Corridor of Renewable Energy (SCORE),” S&P said in a press release.

The company gets about 60% of its capacity from hydro generation.

The outlook is negative mirroring the outlook on the state of Sarawak.

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