[MARC] MARC Ratings assigns final ratings to SD Guthrie’s Sukuk Wakalah Programme of up to RM5.0 billion

MARC Ratings has assigned final ratings of AAAIS to SD Guthrie Berhad’s Senior Islamic Medium-Term Notes (Senior Sukuk Wakalah) and AAIS to the Subordinated Perpetual Islamic Notes (Perpetual Sukuk Wakalah) under a Sukuk Wakalah Programme with a combined limit of RM5.0 billion. The outlook on the ratings is stable.

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 see SD Guthrie’s preliminary rating announcement dated 19 September 2025. The full credit analysis report is available at http://online.marc.com.my.

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