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RAM Ratings withdraws rating of Mydin Holdings’s Islamic MTN

Published on 21 May 2020.

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RAM Ratings has received confirmation that Mydin Mohamed Holdings Berhad (Mydin Holdings or the Group) has fully redeemed the outstanding sukuk under the Group’s RM350 mil Danajamin-Guaranteed Islamic MTN Programme (2011/2024). The programme was cancelled on 16 May 2020. As such, we have withdrawn the AAA(fg)/Stable rating of the Islamic MTN and no longer have any rating obligation on it. 

 

Analytical contact
Amy Lo 
(603) 3385 2509 
amy@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



Ratings on Mydin Mohamed Holdings Berhad

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