MARC has withdrawn its A+ID  and MARC-2ID /A+ID ratings on toll road concessionaire Maju Expressway Sdn Bhd’s (MESB) RM380.0 million Al Bai’ Bithaman Ajil Primary Serial Medium Term Notes (BBA MTN) and up to RM80.0 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) respectively following the early redemption of outstanding BBA MTN and MCP/MTN on June 15, 2010, as confirmed by its facility agent United Overseas Bank (Malaysia) Bhd. With the redemption of the BBA MTN and MCP/MTN, MARC’s rating coverage on MESB is now limited to its RM550.0 million Islamic MTN Programme which carries a rating of AA-ID /stable.

Contacts:
Sandeep Bhattacharya, 03-2090 2247 / sandeep@marc.com.my;
Khairul Emran Mahmud, 03-2090 2278 / emran@marc.com.my;
Ezien Hoo, 03-2090 2267 / ezien@marc.com.my