RAM reaffirms TNB ‘AAA/Stable’ rating

KUALA LUMPUR: RAM Ratings has reaffirmed the AAA/Stable rating of Tenaga Nasional Bhd’s US$500 million (RM2.16 billion) equivalent Murabahah mediumterm notes (MTN) programme (2005/2025). This was based premised on TNB’s continued strong performance and strategic position as the national utility company. RAM yesterday said based on its rating methodology for government-linked entities, TNB was highly likely to receive extraordinary government support in the event of financial distress.