| RAM Ratings has reaffirmed the AAA(s) rating of Muhibbah Engineering (Muhibbah) MYR 130 million ($43.4 million) Sukuk; the enhanced long-term rating has a stable outlook.
The AAA(s) rating is supported by the irrevocable and unconditional guarantee from Malayan Banking (Maybank), to honour Muhibbah's irrevocable and unconditional undertaking to purchase and cancel all the Sukuk at the exercise price upon the declaration of an event of default (Purchase Undertaking.............................................Full Article: Source
|