MARC has removed its AA-IS rating on DRIR Management Sdn Bhd’s (DRIRM) RM160 million Class B Sukuk Ijarah Medium Term Notes (sukuk) from MARCWatch Developing and withdraws its rating with immediate effect. The rating withdrawal follows the full redemption of the sukuk on December 30, 2011, as confirmed by the facility agent. The rating was placed on MARCWatch Developing on September 30, 2011 pending the completion of the proposed refinancing exercise of the sukuk, which was recently completed.

Following the rating withdrawal, MARC will no longer be providing analytical coverage on DRIRM.

Contacts:
Sandeep Bhattacharya, +603-2082 2247/ sandeep@marc.com.my.