MARC has affirmed its rating of AAA-IS on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. The rating affirmation reflects the credit of the Government of Malaysia (GoM) as the single obligor and sublessee which will make contractual sublease rental payments under irrevocable sublease agreements between the GoM and Pembinaan BLT Sdn Bhd (PBLT) in respect of projects for the Royal Malaysia Police or Polis DiRaja Malaysia (PDRM).
The repayment profile of each series of IMTN issued is structured to match defined sublease rental payments from the GoM to ensure full and timely servicing and repayment of the notes. (Press Release)