Tuesday, Apr 26, 2022
MARC Ratings has withdrawn its ratings on Kinabalu Capital Sdn Bhd’s Issue 1 and Issue 2 Medium-Term Notes (MTN) and Commercial Papers (CP) under the RM3.0 billion MTN and CP Programme. The rating withdrawal follows the completion of the refinancing exercise and full redemption of the outstanding RM20 million Class A MTN rated AAA and RM200 million CP rated MARC-1 under Issue 1, and RM130 million Class A MTN rated AAA and RM40 million CP rated MARC-1 under Issue 2.
Following the full redemption of Issue 1 and Issue 2, Kinabalu Capital currently has only Issue 3 under the RM3.0 billion MTN and CP Programme. As at end-March 2022, the outstanding under Issue 3 comprised RM113 million Class A MTN rated AAA and RM17 million Class B MTN rated AA. There is no outstanding under Class C MTN. The ratings outlook is stable.
Contacts:
Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my
Yazmin Abdul Aziz, +603-2717 2948/ yazmin@marc.com.my