Sunday 29, December 2013 by Matthew Amlôt

RAM Ratings reaffirms AAA(fg) rating of BCity’s debt issue

RAM Ratings has reaffirmed the enhanced rating of BerjayaCity Sdn Bhd’s (BCity or the Company) MYR 150 million Danajamin-Guaranteed MTN Programme (MTN) at AAA(fg)/Stable. The enhanced rating reflects an irrevocable and unconditional financial guarantee extended by Danajamin Nasional Berhad (rated AAA/Stable/P1 by RAM). The guarantee enhances the credit profile of the facility beyond BCity’s stand-alone credit strength. Under this structure, all risks associated with the MTN are expected to be absorbed by Danajamin.

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