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RAM Ratings withdraws rating of Sepangar
Published on 20 Aug 2025.
RAM Ratings has, at the issuer’s request, withdrawn the rating assigned to Sepangar Bay Power Corporation Sdn Bhd’s RM575 mil Nominal Value Sukuk Murabahah. As such, we no longer have any rating obligation in respect of the AA1-rated facility. The Negative Rating Watch placed on the facility was last extended on 18 April 2025.
Analytical contacts
Chew Chiang Lim
(603) 2708 8297
chianglim@ram.com.my
Chong Van Nee, CFA
(603) 2708 8210
vannee@ram.com.my
Media contact
Sakinah Arifin
(603) 2708 8212
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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