MARC has assigned final ratings of AA-IS and A- to Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) Islamic Medium Term Notes Programme (Sukuk Musharakah or Senior Sukuk) and Redeemable Secured Junior Bonds (Junior Bonds) of up to RM2.3 billion and RM180.0 million respectively. The outlook on the ratings is stable.

Upon review of the final documentation of the forthcoming issuance, MARC is satisfied that the terms and conditions of the Sukuk Musharakah and Junior Bonds have not changed in any material way from the draft documents on which the earlier preliminary ratings of AA-IS and A- were based.

Full details on the assigned ratings have been provided in Kesturi’s preliminary rating announcement on September 20, 2013. The full Credit Analysis Report is available on MARC’s website www.marc.com.my.

Contacts:
Koh Shu Yunn, +603-2082 2243/ shuyunn@marc.com.my;
Ng Chun Kean, +603-2082 2230/ chunkean@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.