KUALA LUMPUR (Sept 11): There appeared to be no immediate impact on SapuraKencana Petroleum Bhd 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.