MARC has withdrawn its MARC-1/AAA ratings on Valid Ventures Berhad’s (VVB) RM85 million Commercial Papers/Medium Term Notes (CP/MTN) programme. The ratings withdrawal follows the confirmation by the facility agent, OSK Investment Bank Berhad, that the outstanding CP of RM15.0 million was fully redeemed on December 9, 2010 and VVB has unconditionally and irrevocably confirmed the termination and cancellation of the remaining CP/MTN programme.

MARC will no longer provide analytical coverage of VVB following the rating withdrawal.

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