[MARC] MARC Ratings withdraws UEM Sunrise’s RM500.0 million ICP rating

MARC Ratings has withdrawn its MARC-1IS rating on UEM Sunrise Berhad’s sub-limit RM500.0 million Islamic Commercial Papers (ICP) Programme. The rating withdrawal follows the expiry of the programme as confirmed by the facility agent on May 29, 2023. Following the expiry, UEM Sunrise has only one ICP programme under its ICP/Islamic Medium-Term Notes (ICP/IMTN-3) Programme with a combined nominal value of RM4.0 billion.

The analytical coverage on UEM Sunrise is now limited to the following issuances:

• IMTN Programme with a nominal value of RM2.0 billion (IMTN-1) rated AA-IS/Stable
• IMTN Programme with a nominal value of RM2.0 billion (IMTN-2) rated AA-IS/Stable
• ICP/IMTN-3 Programme with a combined nominal value of RM4.0 billion rated MARC-1IS/AA-IS/Stable

Farhan Darham, +603-2717 2945/ farhan@marc.com.my
Yazmin Abdul Aziz, +603-2717 2948/ yazmin@marc.com.my