Published on 07 Mar 2023.
RAM Ratings has withdrawn the AAA rating of Gulf Investment Corporation GSC’s (GIC) RM400 mil Senior Unsecured Bonds (2008/2023) following confirmation that all outstanding bonds were fully redeemed on 3 February 2023.
We will, however, maintain surveillance of GIC’s AAA/Stable/P1 corporate credit ratings and the AAA/Stable rating of its RM3.5 bil Sukuk Wakalah bi Istithmar Programme (2011/2031).
Loh Kit Yoong
(603) 3385 2493
(603) 3385 2619
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 2023 by RAM Rating Services Berhad
Ratings on Gulf Investment Corporation GSC