MARC has withdrawn its AA-ID rating/stable outlook on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium-Term Notes (IMTN) Programme at the issuer’s request.

May 20, 2014 -
MARC has withdrawn its AA-ID rating/stable outlook on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium-Term Notes (IMTN) Programme at the issuer’s request. This follows the approval and consent via a resolution from the noteholders for the withdrawal of the rating on May 7, 2014, following the purchase of the outstanding IMTN by parent company Bright Focus Berhad on January 24, 2014.
The rating withdrawal affects the outstanding RM550.0 million of outstanding IMTN issued under the aforementioned programme. MESB’s rating was last affirmed on September 30, 2013. Upon the withdrawal of the rating, MARC will no longer provide any analytical coverage on the issuer.
Contacts:
Noor Izyani Saad, +603-2082 2256/ izyani@marc.com.my;
Koh Shu Yunn, +603-2082 2243/ shuyunn@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.