[RAM] RAM Ratings assigns AAA/Stable/P1 final ratings to Pantai's IMTN/ICP programmes

RAM Ratings has assigned final ratings of AAA/Stable/P1 to Pantai Holdings Sdn Bhd’s (Pantai or the Company) Islamic Medium-Term Notes and Islamic Commercial Papers programmes with a combined limit of up to RM15 bil. 

In assigning the final ratings, we have considered the final terms and reviewed all relevant transaction documents. We find these to be in line with our expectations under Pantai’s corporate credit ratings, which were assigned and published on 14 August 2025 (click here). Please refer to the final rating rationale for further details.

Proceeds from the upcoming issuance from the rated programmes will be used to refinance the RM4.0 bil unrated Sukuk taken to fund the acquisition of Island Hospital in November 2024. Future issuances may be used to finance investments, working capital, capex and other general corporate purposes.


Analytical contacts
Neo Xue Wei, CFA
(603) 2708 8241
xuewei@ram.com.my

Chew Wei Li
(603) 2708 8301 
weili@ram.com.my

Thong Mun Wai 
(603) 2708 8255 
munwai@ram.com.my

Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my