Thursday, Mar 07, 2024
MARC Ratings has revised its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) from AA- to A+ following the downgrade of parent WCT Holdings Berhad’s rating to A+ from AA-. WCT Holdings has provided a liquidity support undertaking to Segi Astana to ensure funds are sufficient or a refinancing is in place for Segi Astana’s final MTN redemption. The liquidity support had previously provided a one-notch uplift on Segi Astana’s standalone rating of A+ based on WCT Holdings’ then rating of AA-.
Segi Astana’s rating outlook has also been revised to stable from negative. It is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 in Sepang, Selangor.
Contacts:
Umar Abdul Aziz, +603-2717 2962/ umar@marc.com.my
Cyndy Goh, +603-2717 2941/ cyndy@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my