Published on 10 Jan 2023.
RAM Ratings has received confirmation that Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat or the Bank) terminated its RM9 billion Islamic Medium-Term Notes (IMTN) Programme (2013/2023) on 30 December 2022. The programme was established under the Bank’s funding conduit, Imtiaz Sukuk II Berhad.
We have accordingly withdrawn the AA2(s)/Stable rating of the facility and no longer have any rating obligation in respect of it. We will maintain surveillance of Bank Rakyat’s AA2/Stable/P1 financial institution ratings as well as the ratings of the Bank’s following debt programmes:
Imtiaz Sukuk II Berhad
RM10 billion Sukuk Wakalah Programme (2020/2050)
Mumtaz Rakyat Sukuk Berhad
RM5 billion Subordinated Sukuk Murabahah Programme (2016/2036)
(603) 3385 2509
Wong Yin Ching, CFA
(603) 3385 2555
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Ratings on Imtiaz Sukuk II Berhad