MARC has assigned a final rating of AA-_IS to SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650 million for up to 12 years. 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 Murabahah have not changed in any material way from the draft documentation on which the earlier preliminary rating of AA-IS was based.

For full details of the assigned rating, please see SAJ Capital’s preliminary rating announcement on December 5, 2017. The complete analysis is provided in the Credit Analysis Report which is available on MARC’s website at www.marconline.com.my.

Contacts:
Hari Vijay, +603-2717 2937/ harivijay@marc.com.my;
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my