RAM Reaffirms Telekom Malaysia’s Menara ABS’ MYR 1 Billion Sukuk Ijarah Ratings, Stable Outlook

RAM Ratings (RAM) has reaffirmed the ratings of five tranches under Telekom Malaysia (TM)-sponsored property securitisation vehicle Menara ABS’ MYR 1 billion Sukuk Ijarah Programme (2008/2023), all with a Stable Outlook.

Menara ABS is a trust-owned, special-purpose vehicle incorporated by TM to facilitate securitisation of four properties, including Menara TM, Menara Celcom, TM Taman Desa and TM Cyberjaya (the Portfolio) through a Sukuk Ijarah agreement, according to RAM.

Menara ABS’ Tranche A Sukuk Ijarah ratings were reaffirmed by RAM as AAA/Stable for the MYR 240 million Tranche A1, AA2/Stable for the MYR 55 million Tranche A2, as well as AA3/Stable for both MYR 40 m...