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RAM Ratings withdraws rating of Sabah Development Bank’s RM3.0 bil CP Programme

Published on 26 Jul 2019.

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RAM Ratings has withdrawn the P1 rating of Sabah Development Bank Berhad’s RM3.0 bil Commercial Papers Programme (2012/2019), following the full redemption and maturity of the said debt programme on 28 February 2019. As such, RAM no longer has any rating obligation in respect of the programme. However, we will maintain rating surveillance of the Bank’s following debt issues:

Instrument

Ratings

Commercial Papers (CP) Programme of up to RM1.5 bil in nominal value (2014/2021) and Medium-Term Notes (MTN) Programme of up to RM1.5 bil in nominal value (2013/2033)#

AA1/Stable/P1

CP Programme of up to RM1.0 bil in nominal value (2013/2020) and MTN Programme of up to RM1.0 bil in nominal value (2012/2032)*

AA1/Stable/P1

MTN Programme of up to RM3.0 bil (2011/2036)

AA1/Stable

RM1.0 bil MTN Programme (2008/2028)

AA1/Stable

#The aggregate outstanding CP and MTN cannot exceed RM1.5 bil at any time.
*The aggregate outstanding CP and MTN cannot exceed RM1.0 bil at any time.

 

Analytical contact
Sophia Lee    
(603) 3385 2619
sophia@ram.com.my

Media contact
Padthma Subbiah
(603) 3385 2577
padthma@ram.com.my

 

The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.

RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.

Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

Published by RAM Rating Services Berhad
© Copyright 2019 by RAM Rating Services Berhad



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