George Kent’s Proposed Sukuk Wakalah Programmes Receive Final Rating from MARC

Malaysian Rating Corporation Berhad (MARC) has assigned final ratings of MARC-1IS and A+IS to George Kent (Malaysia) Berhad's (George Kent) proposed Islamic Commercial Papers (ICP) Programme worth MYR 100 million and Islamic Medium-Term Notes (IMTN) Programme worth MYR 500 million (Sukuk Wakalah Programmes), subject to a combined limit of MYR 500 million. The ratings outlook is Stable.

On the 13th of January 2021, MARC assigned preliminary ratings to the Sukuk Wakalah Programmes, with MARC affirming the same for the final rating. This is following a final review of the documentation pertaining to the Sukuk Wakalah Programmes, with MARC satisfied that there have been no material changes to the terms and conditions on which the preliminary ratings were based.

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