Poseidon fully redeems Second Tranche Senior MTN; AAA rating withdrawn

Published on 28 Aug 2026.

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RAM Ratings has received confirmation that Poseidon ABS Berhad (Poseidon) had fully redeemed its outstanding RM350 mil Second Tranche Senior Class A Medium-Term Notes (Senior MTN) on 18 August 2026. The final principal repayment was made on a scheduled redemption payment date during the controlled amortisation period, which ends 16 October 2026. Following the redemption, we have withdrawn the AAA/Stable rating of the Senior MTN (last rated on 30 July 2026, click here) and no longer have any rating obligation in respect of the tranche.  

Poseidon is a trust-owned special-purpose vehicle incorporated to facilitate the securitisation of Buy Now Pay Later receivables, marketed under the SPayLater name, and originated by Monee Capital Malaysia Sdn Bhd. We will continue to provide rating coverage on the outstanding Third to Fifth Tranche Senior MTN under Poseidon’s RM3.5 bil asset-backed MTN Programme. The annual review of these outstanding tranches is ongoing, with the outcome to be announced upon completion. 

 

Analytical contacts
Tan Yan Choong
(603) 2708 8256
yanchoong@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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