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RAM Ratings withdraws rating of F&N Capital’s RM750 mil CP Programme upon maturity

Published on 04 Nov 2020.

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RAM Ratings has received confirmation from the Facility Agent that F&N Capital Sdn Bhd’s RM750 mil Commercial Papers Programme (2013/2020) had been automatically cancelled upon its maturity on 14 October 2020. Consequently, RAM has withdrawn the P1 rating and no longer has any rating obligation in respect of the programme. 

That said, we will maintain surveillance on F&N Capital’s RM750 mil Medium-Term Notes Programme (2013/2028), which is rated AA1/Stable. 

 

Analytical contact
Wong Ee Loo
(603) 3385 2521
eeloo@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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