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Posted Date: January 8, 2021

MARC has withdrawn its rating of AAA on Special Coral Sdn Bhd's RM250.0 million Senior Class A Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows completion of the refinancing exercise and full redemption of the outstanding RM200.0 million Senior Class A MTN.

MARC's analytical coverage on the RM1.1 billion MTN Programme is now limited to the RM250.0 million Senior Class A MTN, RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN which are currently rated AAA, AA and B-. The outlook on the ratings is stable. As at January 1, 2021, Special Coral has outstanding Senior Class A MTN of RM200.0 million and Subordinated Class MTN of RM506.3 million. There is no current issuance under the Senior Class B MTN.

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