[MARC] MARC Ratings assigns final rating of AAAIS to PNB Merdeka Ventures’ Sukuk Wakalah Programme of up to RM6.0 billion

MARC Ratings has assigned a final rating of AAAIS to PNB Merdeka Ventures Sdn. Berhad’s (PNBMV) Merdeka Sukuk Wakalah Programme of up to RM6.0 billion with a stable outlook.

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 rating was based.

For full details on the assigned rating, please see PNBMV’s preliminary rating announcement dated 26 August 2025. The full credit analysis report is available at http://online.marc.com.my.

Vanessa Leong, +603-2717 2931/ xinyue@marc.com.my
Chong Wat Son, +603-2717 2929/ watson@marc.com.my
Taufiq Kamal, +603-2717 2951/ taufiq@marc.com.my