| MARC affirms its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's MYR 820 million Sukuk Musyarakah MTN and MYR 50 million Junior Bonds. MARC affirms its ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) MYR 820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and MYR 50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.
The affirmed ratings reflect the satisfactory growth of traffic volume on Kesturi's toll road concession on the Duta-Ulu Kelang Expressway (DUKE) and the company's improving financial performance which has been adequate to meet its debt service obligations..............................................Full Article: Source
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