MARC has withdrawn its AAA ratings on Free Zone Capital Berhad’s (FZCB) and Valid Venture Berhad’s (VVB) Fixed Rate Serial Bonds of RM410 million and RM510 million respectively. The ratings withdrawal follows the confirmation that the facilities have been fully redeemed and cancelled on November 26, 2010 and November 30, 2010 respectively, as confirmed by the facility agent OSK Investment Bank Berhad.

MARC will no longer provide analytical coverage of FZCB following the rating withdrawal. The rating agency will continue to maintain rating surveillance on VVB’s outstanding RM85 million Commercial Papers/ Medium Term Notes programme which is rated MARC-1/ AAA/ Negative.

Contacts:
Sandeep Bhattacharya, +603-2082 2247/sandeep@marc.com.my;
Khairul Emran Mahmud, +603-2082 2278/emran@marc.com.my.