07.04.2011 - RAM Ratings reaffirms ratings of Al-'Aqar Capital's RM300 mln sukuk
RAM Ratings has reaffirmed the respective AAA, AA2, AAA(bg) and P1 ratings of Al-'Aqar Capital Sdn Bhd's (Al-'Aqar Capital) Class A Islamic Medium-Term Notes (IMTN), Class B IMTN, Class C IMTN and Islamic Commercial Papers (ICP) under its RM300 million Sukuk Ijarah Programme; all the long-term ratings have a stable outlook. The reaffirmed ratings of the respective classes of IMTN and ICP are premised on the sturdy cashflow generated by the portfolio of 11 hospitals (the Hospitals), the structural features of the transaction and the loan-to-value (LTV) ratios as well as debt service coverage ratios (DSCRs) that commensurate with the respective ratings............................................Full Article: Source
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