MARC WITHDRAWS RATING ON DRIR MANAGEMENT SDN BHD'S CLASS A SUKUK; CLASS B SUKUK REMAINS ON MARCWATCH DEVELOPING

Sep 30, 2011 -
MARC has withdrawn its AAIS rating on DRIR Management Sdn Bhd’s (DRIRM) Senior Class A Sukuk Ijarah Medium Term Notes (Sukuk) following the full redemption of the remaining outstanding RM40 million principal amount of Sukuk on June 28, 2011. MARC’s AA-IS rating on DRIRM’s RM160 million Class B Sukuk remains on MARCWatch Developing pending the completion of the proposed refinancing of the Sukuk.

MARC will closely monitor the progress of the refinancing exercise, which is now at an advanced stage and is expected to be completed within the next three months, to resolve the MARCWatch placement.

Contact:
Sandeep Bhattacharya, +603-2082 2247/ sandeep@marc.com.my.