RAM Reaffirms AEON Credit’s Senior and Subordinated Sukuk Wakalah Ratings

RAM Ratings (RAM) has reaffirmed the ratings of AEON Credit Service Malaysia Berhad’s (AEON Credit) Senior and Subordinated Sukuk Wakalah Programme at AA3/Stable and A1/Stable respectively. In addition, RAM has reaffirmed the P1 rating of AEON Credit’s MYR 1 billion Islamic Commercial Papers Programme.

The reaffirmation of the ratings is based on RAM’s expectation of extraordinary support from AEON Credit’s ultimate parent, AEON Co., which is a Japan-based retail and financial services group in Asia Pacific, as well as an immediate holding company, AEON Financial Service Co. In addition, the rating reflects AEON Credit’s established franchise in the Malaysian consumer finance market, robust...