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Tenaga Nasional Berhad (TNB), the national utility in Malaysia, will be the sole purchaser of electricity from the Prai power plant, which is expected to begin commercial service in March of 2003. At the same time, Standard & Poor's lowered its long-term foreign currency and senior unsecured ratings on Telekom Malaysia Berhad and Tenaga Nasional Berhad to triple-'B'-minus from triple-'B'-plus. At the same time, Standard & Poor's lowered its long-term foreign currency and senior unsecured ratings on Telekom Malaysia Berhad and Tenaga Nasional Berhad to triple-'B'-plus from single-'A'-minus. |
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