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RAM Ratings withdraws ratings of PESTECH and its proposed sukuk

Published on 30 Oct 2020.

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RAM Ratings has withdrawn the corporate credit ratings of PESTECH International Berhad (PESTECH) and the issue rating of its proposed RM400 mil Tranche 1 under the RM1 bil Perpetual Sukuk Programme, upon the issuer’s request. We will no longer have any rating obligations in respect of PESTECH and the proposed sukuk, which were last rated A1/Stable/P1 and A3/Stable, respectively.

 

Analytical contact
Chu Jia Ying
(603) 3385 2519
jiaying@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 PESTECH International Berhad

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