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AC First Genesis redeems Class A and B First Tranche Sukuk Ijarah ahead of maturity; Sukuk ratings withdrawn
Published on 02 Jul 2026.
RAM Ratings has withdrawn the AAA/Stable ratings of AC First Genesis Berhad’s Class A and Class B First Tranche Sukuk Ijarah, following confirmation that both classes were fully redeemed on 30 June 2026, ahead of their expected maturity date of 29 May 2028. The ratings were last affirmed on 24 April 2026 (click here). Accordingly, we no longer have any rating obligation in respect of the sukuk. The Guaranteed Class C and Subordinated Class D are unrated.
The First Tranche Sukuk was backed by Aman Central Mall (the Mall), an eight-storey retail mall in Alor Setar, Kedah. AC First Genesis is a trust-owned special-purpose vehicle established to facilitate securitisation under its RM3 bil Sukuk Ijarah Programme (2021/2041).
Analytical contacts
Joel Thum
(603) 2708 8232
joel@ram.com.my
Lim Chern Yit
(603) 2708 8302
chernyit@ram.com.my
Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my
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