RAM Reaffirms Ratings of Zamarad’s RCEM-Sponsored Tranche 2 and 3 Sukuk Murabahah

RAM Ratings (RAM) has reaffirmed the ratings of Zamarad Assets’ (Zamarad) Tranche 2 and 3 Sukuk Murabahah, which are the second and third issuances respectively under Zamarad’s MYR 2 billion Sukuk Murabahah Programme. RAM reaffirmed the ratings of Zamarad’s Tranche 2 MYR 80 million Class A Sukuk as AAA/Stable and MYR 20 million Class B Sukuk as AA2/Stable. Meanwhile, the AAA/Stable and AA2/Stable ratings of Zamarad’s respective Tranche 3 MYR 100 million Class A Sukuk and MYR 20 million Class B Sukuk were also reaffirmed by RAM.

Zamarad is a special-purpose vehicle that undertakes securitisation of personal financing facilities from business partners of RCE Marketing (RCEM), which is a Malaysian...