MARC has assigned final ratings of MARC-1IS and A+IS to George Kent (Malaysia) Berhad’s (George Kent) proposed RM100.0 million Islamic Commercial Papers (ICP) Programme and RM500.0 million Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah Programmes) subject to a combined limit of RM500.0 million. The ratings outlook is stable.
We have reviewed the final documentation for the Sukuk Wakalah Programmes and are 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 of the assigned ratings, please see George Kent’s preliminary rating announcement on January 13, 2021. The complete analysis is provided in the Credit Analysis Report which is available on MARC’s website at www.marconline.com.my.