MARC withdraws its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) Class B and Class C Notes following the notes’ early redemption on September 14, 2012 and December 14, 2012 respectively as confirmed by the facility agent, CIMB Investment Bank Berhad.

MARC had earlier withdrawn its rating on Class A Notes on August 6, 2012 following the redemption of all remaining outstanding Class A Notes. The three classes of notes (collectively known as Notes Series 2007-A) represent the first and only series of rated auto hire purchase receivables-backed notes issued under Class Auto’s RM10.0 billion Medium Term Notes Programme.

Following the ratings withdrawal, there are no outstanding rated notes under the Programme and MARC will discontinue its analytical coverage.

Contacts:
Tan Eng Keat, +603-2082 2265/ engkeat@marc.com.my;
Jason Kok, +603-2082 2258/ jason@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.