MARC has withdrawn its ratings of MARC-1(cg)
and MARC-1ID(cg) on Tesco Stores (Malaysia) Sdn Bhd’s
(Tesco Malaysia) short-term debt programmes due to the expiration of the
Conventional and Islamic Commercial Paper (CP and ICP) components of the
combined RM3.5 billion programmes. The CP and ICP programmes were part of Tesco
Malaysia’s RM3.5 billion CP and ICP, and Medium-Term Notes and Islamic
Medium-Term Notes (MTN and IMTN) programmes respectively.
MARC’s analytical coverage on Tesco Malaysia is now
limited to the MTN and IMTN portions of the programme which are rated AA-(cg)/AA-ID(cg) with a negative outlook. As at
date of this announcement, there are no outstanding balances under the MTN and IMTN
programmes.
Contacts: Wan Abdul Muiz Wan Abdul Ghafar, +603-2082
2260/ muiz@marc.com.my;
Yap Lai Ken, +603-2082 2247/ laiken@marc.com.my.
May 20, 2016
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