RAM Ratings withdraws preliminary ratings of IGB Commercial REIT Capital’s First Tranche MTN

Published on 20 Sep 2021.

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RAM Ratings has withdrawn the preliminary ratings (see table) assigned to the RM850.0 million First Tranche Medium Term Notes (MTN) of IGB Commercial REIT Capital Sdn Bhd’s (the Issuer) perpetual RM5.0 billion MTN Programme, at the request of the Issuer. As such, we no longer have any rating obligation in respect of the First Tranche MTN.

First Tranche MTN

Preliminary Rating/

Issue Amount
(RM mil)

Class A



Class B



Class C







Analytical contacts
Liew Kar Ling
(603) 3385 2586

Lim Chern Yit
(603) 3385 2528


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

Ratings on IGB Commercial REIT Capital Sdn Bhd