Posted Date: March 10, 2022
MARC Ratings has withdrawn its rating of A+IS on TSH Sukuk Ijarah Sdn Bhd’s RM300 million Medium-Term Notes (IMTN) Programme. The rating withdrawal follows the full redemption of the outstanding RM15 million and subsequent cancellation of the programme. TSH Sukuk Ijarah is a wholly-owned special purpose funding vehicle of TSH Resources Berhad (TSH).
With the cancellation, MARC Ratings’ analytical coverage is limited to programmes under TSH’s other funding vehicle, TSH Sukuk Murabahah Sdn Bhd, namely the RM50 million Commercial Papers Programme and RM150 million IMTN Programme which carry ratings of MARC-1IS and A+IS/Positive.