18/01/2013 (Bernama) - RAM Ratings has reaffirmed the AA2 and P1 ratings of Genting Plantations Bhd's respective long-term and short-term corporate credit ratings.

The positive outlook on the long-term rating has been revised to stable, RAM said in a statement today.

Genting Plantations is principally involved in the cultivation of oil palm, and has 22 estates across Peninsular Malaysia and Sabah, and six joint ventures in Indonesia.

RAM said the revision to a stable outlook was due to the group's declining performance.

While Genting Plantations' long-term rating had been placed on a positive outlook since Jan 27, 2011, due to its commendable operational and financial track record, its results however have declined amid more challenging operating conditions this year, in line with industry performance.