Innes does not foresee further downgrades for Petronas’ sovereign ratings after credit rating agency Fitch Ratings Inc downgraded the national oil firm’s long-term foreign and local currency issuer default ratings (IDRs) to BBB from A- on Tuesday.
KUALA LUMPUR: The Brent crude oil price is likely to rise to US$60 per barrel in 2021, thus improving Petroliam Nasional Bhd’s (Petronas) revenue outlook next year, said Axi chief global market strategist Stephen Innes.
He does not foresee further downgrades for Petronas’ sovereign ratings after credit rating agency Fitch Ratings Inc downgraded the national oil firm’s long-term foreign and local currency issuer default ratings (IDRs) to BBB+ from A- on Tuesday.
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