TSH Ratings Outlook Revised to Positive by MARC

TSH Sukuk Murabahah Sdn Bhd’s MYR 150 million Medium-Term Notes (IMTN) Programme and MYR 50 million Commercial Papers Programme have had their ratings affirmed at A+IS and MARC-1IS by Malaysian Rating Corporation (MARC). Concurrently, TSH Sukuk Ijarah Sdn Bhd's MYR 300 million IMTN programme has also been affirmed at A+IS. The outlook for the long-term ratings has been revised to positive.

Ratings Rationale

TSH Resources (TSH) has given an irrevocable and unconditional undertaking to meet the purchase obligations of both TSH Sukuk Murabahah and TSH Sukuk Ijarah, which are its special-purpose funding vehicles. As a result, the strength of TSH is taken into account when assigning ratings. The positive outlook is based on TSH Group’s improved...