S&P ups Telekom Malaysia local rating

Standard & Poor's said it raised its long-term local currency rating on Telekom Malaysia Berhad to A from A-. At the same time, S&P affirmed its long-term foreign currency rating on the company at A-.

The outlook on both ratings is stable.

"The upgrade in the local currency rating on Telekom Malaysia is a result of the company's improving financial profile, as well as the successful integration of its wireless business, which will be completed soon," said S&P credit analyst Yasmin Wirjawan. "The ratings on Telekom Malaysia reflect the company's dominant market position in Malaysia and benefit from close governmental support."

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.