RAM Reaffirms Sarawak Energy’s MYR 15 Billion Sukuk Musyarakah Programme Rating at AAA/Stable

RAM Ratings (RAM) has reaffirmed the AAA/Stable rating of Sarawak Energy Berhad’s (SEB) MYR 15 billion Sukuk Musyarakah Programme (2011/2036).

The reaffirmation reflects RAM’s expectation that the credit metrics of SEB will remain strong in the medium term, supported by robust business fundamentals amid the maturing Sarawak Corridor of Renewable Energy. In addition, the support given by the Sarawak state government and the Federal Government to SEB is also a factor in the reaffirmation. According to RAM, SEB is wholly owned by the Sarawak state government and plays a strategic role in generating and delivering electricity to power Sarawak state, and benefits from a high likelihood of Government support in th...