MARC has removed its ratings of AAAID and AAID on ABS Plantation Assets Berhad’s (ABS Plantation) RM50 million Class A and RM45 million Class B Senior Notes Bai’ Bithaman Ajil Islamic Debt Securities (BaIDs) respectively from MARCWatch Developing,  where they have been placed since August 28, 2009. At the same time, MARC has withdrawn the ratings upon confirmation from the facility agent, Deutsche Bank (Malaysia) Berhad, of the early redemption of the rated facilities on March 8, 2010 and subsequently the cancellation of the rated facilities effective April 19, 2010. The early redemption occurred following the successful discharge of security securing the rated facilities within the timeline set by the local financial institution providing the term financing facility to refinance the BaIDs.

Contacts:
Nadia Edmaz Abdul Hadi, 03-2090 2262/ nadia@marc.com.my;
Sandeep Bhattacharya, 03-2090 2247/ sandeep@marc.com.my