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RAM Ratings monitoring move to abolish Eastern Dispersal Link tolling
Published on 30 Oct 2017.
RAM Ratings is closely monitoring the development of the recent announcement by Prime Minister Datuk Seri Najib Abdul Razak during the tabling of Budget 2018 that toll for the Eastern Dispersal Link (EDL) would be abolished effective 1 January 2018. The RM845 million Senior Sukuk of MRCB Southern Link Berhad (the Company), the funding conduit for the 8.62-km EDL in Johor Bahru, is rated BB3/negative. RAM will assess the Company’s ability to meet its obligations in respect of the sukuk in light of the proposed abolition, and hence the rating impact, when details of the move become available.
Analytical contacts
Chinthamani Thanneermalai
(603) 7628 1013
chinthamani@ram.com.my
Media contact
Padthma Subbiah
(603) 7628 1162
padthma@ram.com.my
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