MARC has assigned a final rating of A+_IS to Tropicana Corporation Berhad’s (Tropicana) proposed RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) with a stable outlook. 

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

For full details of the assigned rating, please see Tropicana’s preliminary rating announcement on April 16, 2020. The complete analysis is provided in the Credit Analysis Report which is available on MARC’s website at www.marconline.com.my. 

Contacts:
Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my; 
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my