KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) has withdrawn its MARC-1ID(bg)/AA-ID(bg) ratings assigned to MULPHA INTERNATIONAL BHD []'s (Mulpha) RM75 million Islamic debt notes.
MARC said on Friday, March 11 the withdrawal of the ratings on the bank guaranteed murabahah notes issuance facility (Munif) with immediate effect followed the cancellation of the programme.
The cancellation was confirmed by the facility agent, AmInvestment Bank Bhd. There were no notes outstanding under the facility prior to cancellation.
'With the cancellation of the bank guaranteed MUNIF, MARC's rating coverage on Mulpha is now limited to its existing RM25 million murabahah commercial papers/medium term notes (CP/MTN) facility, which carry the ratings of MARC-1ID/AID/Stable,' it said.
MARC said on Friday, March 11 the withdrawal of the ratings on the bank guaranteed murabahah notes issuance facility (Munif) with immediate effect followed the cancellation of the programme.
The cancellation was confirmed by the facility agent, AmInvestment Bank Bhd. There were no notes outstanding under the facility prior to cancellation.
'With the cancellation of the bank guaranteed MUNIF, MARC's rating coverage on Mulpha is now limited to its existing RM25 million murabahah commercial papers/medium term notes (CP/MTN) facility, which carry the ratings of MARC-1ID/AID/Stable,' it said.
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