MARC has withdrawn its ratings of MARC-1_(cg) and MARC-1_ID(cg) on Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) short-term debt programmes due to the expiration of the Conventional and Islamic Commercial Paper (CP and ICP) components of the combined RM3.5 billion programmes. The CP and ICP programmes were part of Tesco Malaysia’s RM3.5 billion CP and ICP, and Medium-Term Notes and Islamic Medium-Term Notes (MTN and IMTN) programmes respectively.

MARC’s analytical coverage on Tesco Malaysia is now limited to the MTN and IMTN portions of the programme which are rated AA-_(cg)/AA-_ID(cg) with a negative outlook. As at date of this announcement, there are no outstanding balances under the MTN and IMTN programmes.

Contacts:
Wan Abdul Muiz Wan Abdul Ghafar, +603-2082 2260/ muiz@marc.com.my;
Yap Lai Ken, +603-2082 2247/ laiken@marc.com.my.