Fitch lifts Telekom Malaysia view to stable

Fitch Ratings said it affirmed Telekom Malaysia Bhd.'s long-term foreign-currency issuer default rating at A- and revised the outlook to stable from negative.

The agency also simultaneously affirmed the company’s foreign-currency senior unsecured rating at A-.

The outlook revision follows the revision of the outlook on the Malaysian sovereign to stable from negative.

The company’s A- rating is based on a single-notch uplift from its standalone credit profile of BBB+ to reflect the Malaysian sovereign's majority state-ownership of 56% as of June 2015.

The company continues to be strategically important to government, Fitch said.

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