S&P revises Telekom Malaysia view to negative

S&P said it revised the outlook on Telekom Malaysia Bhd.’s long-term foreign-currency issuer credit rating to negative from stable and affirmed the A- ratings on the company and its senior unsecured notes. The agency also affirmed the A- local-currency rating with a stable rating.

“The negative outlook on our foreign-currency issuer credit rating on Telekom Malaysia reflects the negative outlook on our Malaysia sovereign credit rating and our view that the company's credit profile is intrinsically linked due to its relationship with the government,” S&P said in a press release.

The local-currency issuer rating outlook remains stable because the A- local-currency rating would remain unchanged in the event S&P trimmed the long-term local-currency rating on the sovereign of Malaysia by one notch to A-, the agency said.

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