05.09.2012 - MARC affirms ratings on UMW Holdings’ Islamic debt programmes
MARC has affirmed its short-term and long-term Islamic debt ratings of MARC-1ID/AAAID on UMW Holdings Berhad (UMW) with a stable outlook. The rating actions affect MYR 800 million of outstanding notes issued under the investment holding company's MYR 300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme and RM500 million IMTN Programme. The affirmed ratings and outlook reflect the sustained performance of UMW's automotive business segment supported by leading market shares of 51 per cent-owned UMW Toyota Motor and 38 per cent-owned Perusahaan Otomobil Kedua in the domestic non-national and national passenger car segments............................................Full Article: Source
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