RAM Ratings has reaffirmed the respective long and short-term corporate credit ratings of Genting Plantations Bhd, at AA2 and P1.
Concurrently, the outlook on the long-term rating has been revised from stable to positive.
"The revision in outlook is premised on the Group’s better-than-expected capital structure arising from the more measured pace of its expansion in Indonesia.
"Combined with the strong prices of crude palm oil (CPO) in the last few years, the Group’s healthy tree maturity-profile and lean cost structure, Genting Plantations has consistently displayed impressive operating and financial track records," the rating agency said in a statement today.
In the statement, RAM Ratings' head of Real Estate and Construction Ratings, Shahina Azura Halip, noted: "The long-term rating may be upgraded if Genting Plantations can sustain its commendable operational and financial profile as well as demonstrate a longer track record of successful operations in Indonesia."
Concurrently, the outlook on the long-term rating has been revised from stable to positive.
"The revision in outlook is premised on the Group’s better-than-expected capital structure arising from the more measured pace of its expansion in Indonesia.
"Combined with the strong prices of crude palm oil (CPO) in the last few years, the Group’s healthy tree maturity-profile and lean cost structure, Genting Plantations has consistently displayed impressive operating and financial track records," the rating agency said in a statement today.
In the statement, RAM Ratings' head of Real Estate and Construction Ratings, Shahina Azura Halip, noted: "The long-term rating may be upgraded if Genting Plantations can sustain its commendable operational and financial profile as well as demonstrate a longer track record of successful operations in Indonesia."
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