Published on 10 Aug 2020.
RAM Ratings has received confirmation from Malaysian Trustees Berhad that Cagamas MBS Berhad had fully redeemed the outstanding RM400 mil Series A6 of its RM2.05 bil Sukuk Musyarakah Islamic Residential Mortgage-Backed Securities (CMBS 2005-1 or the Sukuk) on the maturity date of 7 August 2020.
Cagamas MBS is a limited-purpose entity specifically incorporated to securitise government staff housing loans and government staff Islamic home financing from the Government of Malaysia. CMBS 2005-1 was the second issuance by Cagamas MBS, with a portfolio size of RM2.84 bil on the date of purchase. Following this redemption, RAM has withdrawn the AAA rating of CMBS 2005-1 and no longer has any rating obligation in respective of the Sukuk.
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Ratings on Cagamas MBS Berhad CMBS 2005-1