Published on 06 Oct 2023.
RAM Ratings has received confirmation that Salvare Assets Berhad (Salvare) redeemed its RM39.0 mil First Tranche Senior Class A Notes (Senior Notes) in full on the coupon payment date of 29 September 2023. The First Tranche Senior Notes – the AAA/Stable rating of which was last published on 13 June 2023 (click here) – was fully cash-backed upon commencement of the Controlled Amortisation Period on 1 July 2023. As per the transaction terms, Salvare served a notice of early redemption on 8 September 2023. Accordingly, we have withdrawn the rating of the Senior Notes and no longer have any rating obligation in respect of the facility.
Salvare is a trust-owned, special-purpose vehicle incorporated to undertake the securitisation of micro-financing receivables originated by Axiata Digital Capital Sdn Bhd. Boost’s AI-based micro financing business specialises in providing financing and insurance to underserved market segments, especially micro, small and medium-size enterprises.
L Nurisya Abdullah
(603) 3385 2492
Lim Chern Yit
(603) 3385 2528
(603) 3385 2500
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Ratings on Salvare Assets Berhad