Upon the request of Abu Dhabi National Energy Company PJSC (TAQA or the Group), RAM Ratings has withdrawn the AA1/Stable rating of the Group's Sukuk Murabahah Programme of up to RM3.5 billion in nominal value (2012/2032) (Sukuk). As such, we no longer have any rating obligation in respect of the Sukuk. As at 20 March 2015, the amount of Sukuk outstanding stood at RM650 million.
-Ends-
Media contact
Chinthamani Thanneermalai
(603) 7628 1013
chinthamani@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.
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
© Copyright 2015 by RAM Rating Services Berhad
© Press Release 2015
