Posted Date: May 21, 2021

MARC has assigned a final rating of AA-IS to The Holstein Milk Company Sdn Bhd's (THMC) RM1.0 billion Sukuk Wakalah Programme. The rating outlook 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.

For full details of the assigned rating, please see THMC's preliminary rating announcement on April 16, 2021. The complete analysis is provided in the Credit Analysis Report which is available on MARC's website at www.marconline.com.my.

Gan Peishi, +603-2717 2948/ peishi@marc.com.my;
Umar Abdul Aziz, +603-2717 2962/ umar@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my.