MARC has assigned a final rating of AA-_IS to Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) issuance of RM210.0 million Sukuk Murabahah (sukuk). The outlook on the rating is stable.

Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rating of AA-IS was based.

Full details on the assigned rating have been provided in Grand Sepadu’s preliminary rating announcement on April 29, 2015. The Credit Analysis Report is available on MARC’s website at www.marc.com.my.

Contacts:
Izyani Saad, +603-2082 2256/ izyani@marc.com.my;
David Lee, +603-2082 2255/ david@marc.com.my.