MARC has assigned final ratings to Berjaya Land Berhad’s (BLand) 10-year RM650.0 million guaranteed Medium-Term Notes (MTN) programme at AAA(fg) for the RM500.0 million portion guaranteed by Danajamin Nasional Berhad (Danajamin) and AAA(bg) for the RM150.0 million guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The outlook for the ratings is stable.  
 
Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the guaranteed MTN programme have not changed in any material way from the draft documentation on which the earlier preliminary ratings of AAA(fg) and AAA(bg) were based.

Full details on the assigned rating have been provided in BLand’s preliminary rating announcement on December 3, 2014. The Credit Analysis Report is available on MARC’s website at www.marc.com.my.

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