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RAM Ratings withdraws ratings of Telekom’s RM2 bil Islamic CP and Islamic MTN Programme

Published on 30 Mar 2021.

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RAM Ratings has withdrawn the AAA/P1 ratings of Telekom Malaysia Berhad’s (TM) RM2 bil Islamic CP and Islamic MTN Programme (2011/2026), following its early redemption on 16 March 2021. As such, RAM no longer has any rating obligation in respect of the said programme. 

Meanwhile, RAM will maintain surveillance on TM’s sukuk, as tabulated below.

Instrument

Rating(s)

RM3 bil Islamic MTN Programme (2013/2033)

AAA/Stable

RM4 bil Islamic MTN Programme (2018/2048) and Islamic CP (2018/2025)

AAA/Stable/P1

 

Analytical contact
Jack Kwan
(603) 3385 2532
jack@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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