Errata: Correction in Pengurusan Air Selangor’s Credit rating rationale

Published on 31 Oct 2022.

Share Tweet Email

RAM Ratings has corrected the statement on Page 10 on Pengurusan Air Selangor Sdn Bhd’s rating rationale. The amended rationale, republished on our website, supersedes the version released on 27 September 2022, with respect to the definition of the Minimum Required Balance. Air Selangor is required to maintain an amount equivalent to the aggregate of profit payments falling due under the Sukuk within the next six months in its Finance Service Reserve Account at all times, save and except during the build-up period.

Analytical contacts
Lee Jo Yee
(603) 3385 2583

Chong Van Nee, CFA
(603) 3385 2482

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

Rating Rationale