RAM Ratings: Renewables driving power sukuk issuance, supportive of national green agenda
RAM Ratings maintains its stable outlook on the Malaysian power sector amid the impending liberalisation of the industry in Peninsular Malaysia. Tenaga Nasional Berhad (TNB) and Sarawak Energy Berhad – both rated AAA/Stable – continue to exhibit healthy operational and financial profiles. Sabah Electricity Sdn Bhd (not rated) also boasts a strong financial position, underscored by the Government’s solid support. The sector’s still-supportive regulatory landscape helps uphold the credit strength of the vertically integrated utility companies and independent power producers (IPPs) within their jurisdictions.
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