MARC Assigns Preliminary Rating of AAIS to Sime Darby Plantation's Perpetual Sukuk Programme of up to Rm3.0 Billion; Outlook Stable

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1. IB Press Release Service Published on :​ ​IslamicBanker.com Publications: ​https://www.islamicmarkets.com/publications MARC Assigns Preliminary Rating of AAIS to Sime Darby Plantation's Perpetual Sukuk Programme of up to Rm3.0 Billion; Outlook Stable 9 June 2017 MARC has assigned a preliminary rating of AAIS to Sime Darby Plantation Sdn Bhd's (SDP) Perpetual Subordinated Sukuk Programme of up to RM3.0 billion (Perpetual Sukuk) with a stable outlook. The Perpetual Sukuk is a novation of the existing Perpetual Sukuk of Sime Darby Berhad, currently the holding company of SDP. The existing outstanding amount under the Perpetual Sukuk is RM2.2 billion. The Perpetual Sukuk novation, which is expected to be completed by end-June 2017, is part of the ongoing group-wide reorganisation exercise that will see SDP listed as a separate entity from Sime Darby Berhad by end-December 2017. MARC had on May 25, 2017 assigned a corporate credit rating of AAA/Stable to SDP. The two-notch rating differential between SDP's corporate credit rating and the Perpetual Sukuk is in accordance with MARC's notching principles on subordinated debt and hybrid securities. Organisation Name: News Type: Malaysian Rating Corporation Berhad (MARC) RATING ANNOUNCEMENT Source: BNM Announcements Media Contact Saifuruddin Othman +603-2717 2945 saifuruddin@marc.com.my, Taufiq Kamal, +603-2717 2951 taufiq@marc.com.my
2. IB Press Release Service Published on :​ ​IslamicBanker.com Publications: ​https://www.islamicmarkets.com/publications Disclaimer: This communication is provided by Malaysian Rating Corporation Berhad (MARC) on the basis of information believed by MARC to be accurate and reliable as derived from publicly available sources or provided by the rated entity or its agents. MARC, however, has not independently verified such information and makes no representation as to the accuracy or completeness of such information. Any assignment of a credit rating by MARC is solely to be construed as a statement of its opinion and not a statement of fact. A credit rating is not a recommendation to buy, sell, or hold any security.