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(From Business Times (Malaysia))
STANDARD & Poor's Ratings Services has affirmed shipping firm MISC Bhd's standing at "A-." It also affirmed the "A-" rating on medium-term notes issued by MISC Capital (L) Ltd, and guaranteed by MISC.
The "A-" rating "reflects MISC's substantial recurring cash flow from its liquefied natural gas (LNG) contracts, its competitive and efficient operations in the petroleum shipping and lightering operations, and satisfactory financial measures," said Standard & Poor's credit analyst Adrian Chee in a statement yesterday.
"The ownership by Petroliam Nasional Bhd (Petronas), which accounts for over 70 per cent of MISC's …