RAM Ratings Withdraws its Rating of Mydin Mohamed Holdings’ MYR 350 Million Sukuk

RAM Ratings (RAM) has announced its withdrawal of the AAA (fg)/Stable rating of Mydin Mohamed Holdings’ (MMH) MYR 350 million medium-term Sukuk (2011/2024).

This action was taken upon RAM receiving confirmation that MMH had fully redeemed outstanding Sukuk and cancelled the program on the 16th of May 2020. RAM further stated that it no longer has any rating obligations upon the Sukuk.

Previously in December 2019, RAM affirmed the enhanced AAA (fg)/Stable rating of MMH’s MYR 350 million medium term Sukuk, reflecting the irrevocable and unconditional financial guarantee provided by Danajamin Nasional Berhad (AAA/Stable/P1), which RAM stated enhanced MMH’s stand-alon...