P R E S S A N N O U N C E M E N T
FOR IMMEDIATE RELEASE
MARC WITHDRAWS RATING ON TSH SUKUK MUSYARAKAH’S RM100.0 MILLION DANAJAMIN-GUARANTEED IMTN PROGRAMME
MARC has withdrawn its AAAIS(fg) rating on TSH Sukuk Musyarakah Sdn Bhd’s RM100.0 million Danajamin-guaranteed Islamic Medium-Term Notes (IMTN) programme. The rating carried a stable outlook. TSH Sukuk Musyarakah is a special purpose funding vehicle of TSH Resources Berhad. The issuer had fully redeemed its outstanding amount of RM50.0 million under the programme on April 4, 2018. The programme was subsequently cancelled as confirmed by the facility agent on June 19, 2018.
With the cancellation, MARC’s analytical coverage on TSH Resources is now limited to the following issuances of its subsidiaries:
1. TSH Sukuk Ijarah Sdn Bhd’s RM300.0 million IMTN programme rated AA-IS; and
2. TSH Sukuk Murabahah Sdn Bhd’s RM50.0 million Islamic Commercial Papers and RM150.0 million IMTN programmes rated MARC-1IS and AA-IS.
The ratings carry a stable outlook.
Contacts: Wan Abdul Muiz Wan Abdul Ghafar, +603-2717 2939/ muiz@marc.com.my, Yap Lai Ken, +603-2717 2947/ laiken@marc.com.my.
June 25, 2018
[This announcement is available in MARC’s corporate homepage at http://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
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