From Cpifinancial.net: RAM Ratings said it has assigned respective preliminary long- and short-term ratings of AAA (stable outlook) and P1 to Pengurusan Air SPV’s proposed Islamic Medium-Term Notes Programme of up to MYR 20 billion ($5.8 billion) in nominal value and proposed Islamic Commercial Papers Programme of up to MYR 20 billion in nominal value; both facilities have a combined limit of MYR 20 billion in nominal value.

The company is a special-purpose vehicle set up as a wholly owned subsidiary of Pengurusan Aset Air Berhad (PAAB), to undertake the financing of the latter’s acquisition of water assets and their accompanying liabilities in Malaysia and Labuan………………..Full Article: Source