Fitch Ratings has downgraded Petroliam Nasional Bhd’s (Petronas) long-term foreign- and local-currency issuer default ratings (IDRs) to 'BBB+' from 'A-', with the outlook at stable.

In a statement today, Fitch said the rating action followed the downgrade of Malaysia's IDR to 'BBB+' from 'A-' on Dec 4, 2020, with the outlook at stable...