RAM Assigns Ratings to Pengurusan Air Selangor’s MYR 10 Billion Sukuk Murabahah Programme

RAM Ratings (RAM) has assigned preliminary AAA/Stable long-term ratings and P1 short-term ratings to Pengurusan Air Selangor’s (Air Selangor) proposed Islamic Medium-Term Notes Programme of up to MYR 10 billion and Islamic Commercial Papers Programme of up to MYR 10 billion. Both facilities have a combined limit of MYR 10 billion in nominal value in the Sukuk Murabahah Programme (Sukuk).

Classified as a dependent entity under RAM’s methodology for government-linked entities, Air Selangor has been the sole licensee for water treatment and distribution in Selangor, Kuala Lumpur and Putrajaya since September 2019. Given its vital role in providing essential water services, Air Selangor’s Sukuk ratings ref...