MARC Ratings has withdrawn its ratings of AAA_(bg) on Berjaya Land Berhad’s RM500.0 million Medium-Term Notes (MTN) Programme and AAA_(bg) on its RM150.0 million MTN Programme. The programmes carried guarantees from Bank Pembangunan Malaysia Berhad and OCBC Bank (Malaysia) Berhad.

The ratings withdrawal follows the early redemption of the outstanding amount of RM150.0 million under the RM500.0 million guaranteed MTN programme on October 31, 2023. There was no outstanding under the other programme. The programmes were cancelled on November 2, 2023, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical coverage on Berjaya Land.