MARC has assigned a final rating of AA_IS to Sime Darby Berhad’s (Sime Darby) RM3.0 billion Perpetual Subordinated Sukuk Programme (Perpetual Sukuk). The rating outlook is negative.

Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Perpetual 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 Sime Darby’s preliminary rating announcement on February 11, 2016. The Credit Analysis Report is available on MARC’s website at www.marc.com.my.

Contacts:
Saifuruddin Othman, +603-2082 2245 / saifuruddin@marc.com.my;
Cheah Wan Kin, +603-2082 2232 / wankin@marc.com.my;
Taufiq Kamal, +603-2082 2251 / taufiq@marc.com.my.