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Sabah Credit Corporation fully redeems RM1.0 bil ICP

Published on 30 Apr 2020.

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RAM Ratings has withdrawn the P1 rating of Sabah Credit Corporation’s RM1.0 bil Islamic Commercial Papers (2011/2020) following the full redemption and maturity of the facility on 24 April 2020. As such, we no longer have any rating obligation in respect of the said instrument.

However, we will maintain rating surveillance on the following sukuk programmes of Sabah Credit Corporation:

Instrument

Ratings

Islamic Commercial Papers of up to RM1.75 bil (2014/2021) and Islamic Medium-Term Notes (2014/2039) Programme of up to RM3.5 bil#

AA1/Stable/P1

Islamic Medium-Term Notes Programme of up to RM1.0 bil (2011/2031)

AA1/Stable

#subject to a joint limit of RM3.5 bil

 

 

Analytical contact
Tan Shu Xuan 
(603) 3385 2497
shuxuan@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 2020 by RAM Rating Services Berhad



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