RAM reaffirms `AAA' rating on TNB sukuk

KUALA LUMPUR: RAM Ratings Services Bhd has reaffirmed the "AAA" long-term rating of Tenaga Nasional Bhd's (TNB) US$500 million equivalent Murabahah Medium-Term Notes programme, with a stable outlook. In a statement, it said the rating reflects TNB's strategic position as the national electricity company, with a near-monopoly over the transmission and distribution of electricity across Peninsular Malaysia and Sabah.