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RAM Ratings assigns final AAA rating to KIP REIT Capital’s 2026-Issue 6 Class A MTN
Published on 29 Sep 2026.
RAM Ratings has assigned a final AAA/Stable rating to the RM175 mil 2026-Issue 6 Class A Medium-Term Notes (MTN) under KIP REIT Capital Sdn Bhd’s RM2.0 bil Perpetual MTN Programme. KIP REIT Capital is the funding vehicle for KIP Real Estate Investment Trust (KIP REIT) under the programme.
The 2026-Issue 6 MTN is secured by three retail properties: Setapak Central Mall, KIPMall Desa Coalfields and Lotus’s Indera Mahkota. Proceeds of the issuance will partly finance KIP REIT’s proposed acquisition of Setapak Central Mall.
The final rating follows RAM’s review of the transaction’s final terms (including issuance size, tenure and coupon rates) and documentation, which remain in line with expectations when the preliminary rating was assigned in August 2026 (click here). Please refer to the final rating rationale for further details.
We will continue to monitor the transaction, keeping the rating under surveillance while the Class A MTN remains outstanding.
Analytical contacts
Tan Yan Choong
(603) 2708 8256
yanchoong@ram.com.my
Tan Han Nee
(603) 2708 8322
hannee@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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