• PRESS RELEASES

RAM Ratings withdraws rating of Sabah Development Bank’s RM1.0 bil MTN Programme (2012/2032) following early termination

Published on 03 Oct 2022.

Share Tweet Email

RAM Ratings has received confirmation that Sabah Development Bank Berhad terminated its RM1 billion Medium-Term Notes (MTN) Programme (2012/2032) on 12 August 2022. As such, we have withdrawn the AA1/Stable rating of the programme and no longer have any rating obligation in respect of the facility.

We will maintain surveillance of the Bank’s following debt programmes:

 

Table 1: Ratings of Sabah Development Bank’s debt programmes

      Instrument

Ratings

  1. RM3.0 bil Commercial Papers (CP) (2021/2028)/MTN Programme (2021/2046)^

AA1/Stable/P1

  1. RM3.0 bil MTN Programme (2011/2036)

AA1/Stable

  1. RM1.0 bil MTN Programme (2008/2028)

AA1/Stable

^ The aggregate outstanding CP and MTN cannot exceed RM3.0 bil at any time.

 

Analytical contacts
Loh Kit Yoong
(603) 3385 2493
kityoong@ram.com.my

Wong Yin Ching, CFA
(603) 3385 2555
yinching@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 2022 by RAM Rating Services Berhad

 

 



Ratings on Sabah Development Bank Berhad

Loading...