MARC has withdrawn its rating of AAA on Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows completion of the refinancing exercise and full redemption of the outstanding RM200.0 million Senior Class A MTN.
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 January 1, 2021, 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 the Senior Class B MTN.
[This announcement is available on MARC’s corporate website at www.marc.com.my ]
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This communication is provided by Malaysian Rating Corporation Berhad (MARC) based on 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.
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© Press Release 2021