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MARC Ratings assigns final rating of A+IS to Tan Chong Motor's Sukuk Murabahah Programme
10 Mar 2022 | Thursday Source: MARC
MARC Ratings has assigned a final rating of A+IS to Tan Chong Motor Holdings Berhad's (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating is confined to a RM500.0 million issuance and any further drawdown will require a reassessment of the rating. The outlook on the rating is stable.
The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.
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