MARC has withdrawn its MARC-1IS rating on Malakoff Power Berhad's (MPower) RM300 million Islamic commercial papers (ICP) programme. The rating withdrawal follows the cancellation of the ICP programme following the full redemption of all outstanding notes under the programme on April 18, 2014 as confirmed by the facility agent on August 25, 2014.

Going forward, MARC’s rating surveillance on MPower will be limited to the existing RM5.4 billion Sukuk Murabahah issuance which is rated AA-IS/Stable.

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