RAM Ratings has reaffirmed the AAA(s) rating of Muhibbah Engineering (M) Bhd’s RM130mil Islamic bonds. “The enhanced long-term rating has a stable outlook,” said the ratings agency.
According to RAM Ratings, the AAA(s) rating is supported by the guarantee from AAA-rated Malayan Banking Bhd (Maybank), to honour Muhibbah’s undertaking to purchase and cancel all the Islamic bonds at the exercise price upon the declaration of an event of default………………………………………..Full Article: Source