• PRESS RELEASES

Existing financing facilities for RAM-rated three highways fully redeemed following Amanat Lebuhraya’s fundraising exercise

Published on 14 Oct 2022.

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RAM Ratings has withdrawn the ratings of Lingkaran Trans Kota Sdn Bhd’s, Kesas Sdn Bhd’s and Projek Smart Holdings Sdn Bhd’s financing facilities following their full redemption on 13 October 2022, as confirmed by the facility agents. The redemptions were met via part utilisation of proceeds of a new fundraising exercise involving the issuance of Amanat Lebuhraya Rakyat Berhad’s (Amanat Lebuhraya) Senior Sukuk Programme of up to RM5.5 bil (2022/2044).

Table 1: List of financing facilities redeemed

 

Last rating assigned

Lingkaran Trans Kota Sdn Bhd

  1. RM1.15 billion Sukuk Musharakah Islamic Medium-Term Notes I Programme (2008/2023)
  1. RM300 million Sukuk Musharakah Islamic Medium-Term Notes II Programme (2008/2023)

Kesas Sdn Bhd

RM735 million Sukuk Musharakah Islamic Medium-Term Notes (2014/2023)

Projek Smart Holdings Sdn Bhd

RM330 million Islamic Medium-Term Notes Facility (2015/2032)

 

AA2/Stable

AA2/Stable

 

AA2/Stable

 

A1/Stable

 

As such, we no longer have any rating obligation in respect of the said financing facilities. RAM assigned a final AAA rating to the RM5.5 bil Senior Sukuk issued by Amanat Lebuhraya on 12 October 2022, the details behind which can be found on our website at https://www.ram.com.my/pressrelease/?prviewid=6125.

 

Analytical contact
Davinder Kaur Gill
(603) 3385 2525
davinder@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



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