Errata: Amended figure in Bakun Hydro rating rationale

Published on 06 Jan 2021.

Share Tweet Email

RAM Ratings has corrected the finance service coverage ratio (FSCR) of Bakun Hydro Power Generation Sdn Bhd (the Company) in Table 4 on page 18 of the Company’s rating rationale. The FSCR as at 31 December 2019 should be 3.72 times, as per the formula in the Trust Deed, and not 2.68 times as previously stated. This is reflected in the updated report on our website, www.ram.com.my, which supersedes the version published on 24 December 2020. 


Analytical contact
Wong Ee Loo 
(603) 3385 2521

Media contact
Padthma Subbiah
(603) 3385 2577


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 2021 by RAM Rating Services Berhad