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RAM Ratings withdraws Kuveyt Turk’s and KT Kira’s ratings

Published on 14 Dec 2020.

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Upon the request of Kuveyt Turk Katilim Bankasi A.S. (the Bank), RAM Ratings has withdrawn the Bank’s A1/Stable/P1 financial institution ratings and the A1(s)/Stable rating of KT Kira Sertifikalari Varlik Kiralama A.S.’s (KT Kira) RM2.0 billion Islamic Medium-Term Notes Programme (2015/2025). KT Kira is the Bank’s funding conduit. As such, we no longer have any obligation in respect of the ratings. As at 11 December 2020, there was no sukuk outstanding under the programme.

 

Analytical contact
Wong Yin Ching, CFA
(603) 3385 2555
yinching@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 Kuveyt Turk Katilim Bankasi AS

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