RAM Ratings Reaffirms Midciti Sukuk’s MYR 3.0 Billion Murabahah Rating at AAA/Stable

Midciti Sukuk, a financing vehicle of KLCC Real Estate Investment Trust (KLCC REIT), saw its AAA/Stable rating on its MYR 3.0 billion Sukuk Murabahah program reaffirmed by RAM Ratings on the 22nd of April 2020. RAM Ratings reported that the rating of this Sukuk reflects the credit profile of KLCC REIT.

KLCC REIT is deemed to have superior asset quality, with assets such as PETRONAS Twin Towers, Menara 3 PETRONAS and Menara ExxonMobil under its portfolio. As such, KLCC REIT has been able to maintain robust financials with the REIT’s high net property income margin, low leverage and gearing levels, and robust fixed-charge coverage and funds from operations financing coverage ratios. In addition, RAM Ratings added th...