MARC has withdrawn its rating of MARC-1ID(S) on Horizon Hills Development Sdn Bhd’s (Horizon Hills) Islamic Commercial Papers (ICP) Programme of up to RM70.0 million. The rating withdrawal follows the maturity of the facility on June 13, 2014 and subsequent cancellation as confirmed by the facility agent.

MARC’s analytical coverage on Horizon Hills is now limited to the Islamic Bank-Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200.0 million which is rated at AAAID(bg). The outlook on the rating remains stable.

Contacts:
Jasmine Kua, +603-2082 2280/ jasmine@marc.com.my;
Taufiq Kamal, +603-2082 2251/ taufiq@marc.com.my.