Malaysia International Islamic Financial Centre (MIFC) : RAM Ratings withdraws AmBank Islamic’s issue rating following full redemption

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Press Release

05 Jan | Friday

RAM Ratings withdraws AmBank Islamic’s issue rating following full redemption

RAM Ratings has received confirmation that AmBank Islamic Berhad (the Bank) fully redeemed and cancelled its RM2 billion Subordinated Sukuk Musyarakah Programme (2011/2026) on 26 December 2017. Consequently, RAM no longer has any rating obligation in respect of the said facility and has withdrawn its AA3/Stable rating. However, we will maintain surveillance on the Bank’s AA2/Stable/P1 financial institution ratings and the following issue ratings:

Instrument	Rating
RM3 billion Senior Sukuk Musyarakah Programme (2010/2040)	AA₂/Stable
RM3 billion Subordinated Sukuk Murabahah Programme (2014/2044)	AA₃/Stable

Analytical contact
Lim Yu Cheng, CFA
(603) 7628 1188
yucheng@ram.com.my

Media contact
Padthma Subbiah
(603) 7628 1162
padthma@ram.com.my

Date of release: 5 January 2018

The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations

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Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.

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