MARC has assigned final ratings of MARC-1IS/AA-IS with a stable outlook to UEM Land Holdings Berhad’s (ULHB) RM2.0 billion Islamic Commercial Paper (ICP) and Islamic Medium Term Notes (IMTN) programmes with a combined nominal value of RM2.0 billion and a sub-limit of RM500 million for the ICP programme. Upon MARC’s review of the final documentation for its forthcoming notes issuance, MARC is satisfied that the terms and conditions of the programmes have not changed in any material way from the draft documents on which the earlier preliminary ratings of MARC-1IS/AA-IS were based.

Full details on the assigned ratings have been provided in ULHB’s preliminary rating announcement on December 3, 2012. The full Credit Analysis Report will be made available on MARC’s website, www.marc.com.my.

Contacts:
Nisha Fernandez, +603-2082 2269/ nisha@marc.com.my;
Rajan Paramesran, +603-2082 2233/ rajan@marc.com.my.