MARC revises TSH's ratings outlook to positive

MARC has affirmed its rating of A+IS and MARC-1IS on TSH Sukuk Murabahah Sdn Bhd's RM150 million Medium-Term Notes (IMTN) Programme and RM50 million Commercial Papers (ICP) Programme. Concurrently, the rating agency has affirmed its rating of A+IS on TSH Sukuk Ijarah Sdn Bhd's RM300 million IMTN programme. The long-term ratings outlook has been revised to positive.

Both TSH Sukuk Murabahah and TSH Sukuk Ijarah are special purpose funding vehicles of TSH Resources Berhad (TSH) which has given an irrevocable and unconditional undertaking to meet the purchase obligations of these subsidiaries. The rating consideration is therefore based on the strength of TSH.

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