[MARC] MARC Ratings assigns final ratings of AA-IS(cg)/AIS(cg) to TG Treasury’s RM3.0 billion IMTN/ Perpetual Sukuk Programme

MARC Ratings has assigned final ratings of AA-IS(cg)/AIS(cg) to TG Treasury Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme with a stable outlook. TG Treasury is a wholly-owned funding vehicle of Top Glove Corporation Bhd which has provided an irrevocable and unconditional guarantee on the programme.

The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary ratings were based.

For full details on the assigned ratings, please refer to our preliminary rating announcement dated November 28, 2024. The complete analysis is provided in the Credit Analysis Report which is available here.

Cyndy Goh, +603-2717 2941/ cyndy@marc.com.my
Vanessa Leong, +603-2717 2931/ xinyue@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my