RAM Reaffirms Ratings of Axis REIT Sukuk’s MYR 110 Million First Sukuk; Outlook Stable

RAM Ratings (RAM) has reaffirmed its ratings of Malaysian real estate investment trust, Axis REIT Sukuk Berhad’s (ARSB) MYR 110 million First Sukuk Issue (2012/2024).

According to IslamicMarkets Sukuk Monitor, ARSB’s MYR 110 million First Sukuk Issue (2012/2024) consists of four tranches namely: Class A which has an issue size of MYR 95 million with a coupon rate of 4.50%; Class B with a value of MYR 5 million with a 4.95% coupon rate; Class C which has an issuance size of MYR 5 million at a coupon rate of 5.30%, and Class D which is sized at MYR 5 million with a 5.60% coupon rate.

RAM has reaffirmed the ratings of Class A, Class B, Class C and Class D Sukuk under the...