Tuesday, May 23, 2006
MARC has received confirmation from Mayban Trustees Bhd as the trustee for Kwantas Corporation Berhad (KCB), that the ABBA bonds amounting up to RM100 million has been redeemed and refinanced through an issuance of RM220 million Islamic Securities by Kwantas SPV Sdn Bhd (a wholly-owned subsidiary of KCB) and all agreements related to the facility have been terminated accordingly. As such, MARC no longer has any rating obligation on the facility and the A+ID rating is hereby withdrawn.