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Brazil downgrade no immediate impact on SapuraKencana
by Cals Fri 11 Sep 2015, 20:08
- Hot Stock
[size=28]Brazil downgrade no immediate impact on SapuraKencana
By Surin Murugiah / theedgemarkets.com | September 11, 2015 : 1:40 PM MYTKUALA LUMPUR (Sept 11): There appeared to be no immediate impact on SapuraKencana Petroleum Bhd ([You must be registered and logged in to see this image.]Valuation: 1.80, Fundamental: 0.85) from Standard & Poor’s (S&P) downgraded Brazil’s credit rating to junk grade.
SapuraKencana offers support services to Brazil’s national oil company Petroleo Brasileiro SA (Petrobras).
SapuraKencana rose 1.65% or 3 sen in the morning session today to RM1.85 with 8.64 million shares traded.
S&P downgraded Brazil after the South American economy fell into recession.
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