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RAM Ratings assigns final AAA(fg)/Stable rating to Hektar REIT
Published on 08 Feb 2024.
RAM Ratings has assigned a final rating of AAA(fg)/Stable to Hektar MTN Satu Sdn Bhd’s (Hektar MTN Satu) Guaranteed Tranche(s) of up to RM230 million (under its RM500 million MTN programme). We have reviewed the relevant transaction documents and found them to be in line with our expectations when we assigned the preliminary rating, published on 27 December 2023 (click here).
Hektar MTN Satu is a wholly owned subsidiary of Hektar Real Estate Investment Trust (Hektar REIT), set up solely as a funding conduit for the MTN programme. Please refer to our final rating rationale for details on the assigned rating.
Analytical contacts
Joel Thum
(603) 3385 2517
joel@ram.com.my
Tan Han Nee
(603) 3385 2529
hannee@ram.com.my
Media contact
Sakinah Arifin
(603) 3385 2500
sakinah@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
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