MARC: PLSUKE’s MYR 2 Billion Sukuk Wakalah and MYR 500 Million Danajamin-Guaranteed Sukuk Ratings Affirmed

Malaysian Rating Corporation (MARC) has affirmed the rating of Projek Lintasan Sungai Besi-Ulu Klang’s (PLSUKE)’s Sukuk Wakalah Programme (Sukuk Wakalah) of up to MYR 2.0 billion at A+is(s), while revising its outlook to Stable from Negative.

The prior Negative outlook, which reflected a potential delay in construction of the company’s Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) project, and the impact on the credit profiles of PLSUKE and its immediate parent company, Projek Lintasan Kota Holdings (PROLINTAS), has been revised to Stable given the extension granted to PLSUKE to complete the project by November 2021, from the previous deadline of August 2020.

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