MARC has withdrawn its ratings of MARC-1/MARC-1ID on Cagamas Berhad’s (Cagamas) Conventional and Islamic Commercial Paper (CP and ICP) programmes of up to RM20 billion. The ratings withdrawal follows the full redemption of the outstanding amount under the CP and ICP programmes and the expiration of the programmes on June 25, 2014 as confirmed by the facility agent.

MARC’s analytical coverage on Cagamas is now limited to the following rated debt issuances:

• Conventional and Islamic Medium-Term Notes programmes of up to RM40 billion at AAA/AAAID;
• Islamic Commercial Paper programme and Islamic Medium-Term Notes programme with a combined aggregate limit of RM5 billion at MARC-1ID and AAAID respectively; and
• Proposed Conventional and Islamic Commercial Paper programmes with an aggregate combined limit of RM20 billion at preliminary ratings of MARC-1/MARC-1ID.

The outlook on the above ratings is stable.

Contacts:
Se Tho Mun Yi, +603-2082 2263/ munyi@marc.com.my;
Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my.