MARC has withdrawn its ratings of AAA and AA on Special Coral Sdn Bhd’s (Special Coral) RM300.0 million Senior Class Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows the completion of the refinancing exercise and full redemption of outstanding RM160.0 million Class A MTN and RM40.0 million Class B MTN. There were no issuances for Senior Class C through Senior Class F MTNs.
MARC’s analytical coverage on the RM1.1 billion MTN Programme is now limited to the RM250.0 million Senior Class A MTN, RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN which are currently rated AAA, AA and B-. The outlook on the ratings is stable. As at May 25, 2018, Special Coral has outstanding Senior Class A MTN of RM200.0 million and Subordinated Class MTN of RM506.3 million. There is no current issuance under Senior Class B MTN.
-Ends-
Contacts: Lim Chi Ching, +603-2717 2963/ chiching@marc.com.my ;
David Lee, +603-2717 2955/ david@marc.com.my.
[This announcement is available on MARC’s corporate homepage www.marc.com.my ]
--- DISCLAIMER ---
This communication is provided by Malaysian Rating Corporation Berhad (MARC) on the basis of information believed by MARC to be accurate and reliable as derived from publicly available sources or provided by the rated entity or its agents. MARC, however, has not independently verified such information and makes no representation as to the accuracy or completeness of such information. Any assignment of a credit rating by MARC is solely to be construed as a statement of its opinion and not a statement of fact. A credit rating is not a recommendation to buy, sell, or hold any security.
© 2018 Malaysian Rating Corporation Berhad
© Press Release 2018
