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RAM Ratings assigns AA3 preliminary ratings to Kencana’s proposed Sukuk

Posted on 17 June 2011

RAM Ratings has assigned preliminary AA3 ratings to Kencana Petroleum Berhad’s (Kencana or the Group) proposed RM350 million Sukuk Mudharabah (with detachable warrants) (2011/2016) (Sukuk Mudharabah-W) and proposed RM700 million Sukuk Mudharabah Programme (2011/2026) (Sukuk Mudharabah) (collectively known as “the Sukuk”); both long-term ratings have a stable outlook.
Kencana is an investment-holding company with subsidiaries involved in the provision of offshore and onshore engineering and fabrication services, hook-up and commissioning (HUC) services, drilling services and marine support vessels for the oil and gas (O&G) industry. (Press Release)

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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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