Posted Date: November 16, 2022

MARC Ratings has assigned final ratings of MARC-1IS/AIS to Gabungan AQRS Berhad's (GBG) RM200 million Islamic Commercial Papers (ICP)/Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable.

The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary ratings were based.

For full details on the assigned ratings, please see GBG's preliminary ratings announcement dated August 1, 2022. The complete analysis is provided in the Credit Analysis Report which is available here.

Lim Wooi Loon, +603-2717 2943/ wooiloon@marc.com.my 
Farhan Darham, +603-2717 2945/ farhan@marc.com.my 

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