Tuesday 24, December 2013 by Matthew AmlĂ´t

RAM Ratings assigns final AA3/stable rating to BGSM Management’s proposed Sukuk

RAM Ratings has assigned a final AA3/stable rating to BGSM Management Sdn Bhd’s (BGSM Management) proposed MYR 10 billion Sukuk Musharakah Programme (2013/2043). RAM’s assessment is based on BGSM Management’s cumulative debt of up to MYR 7.25 billion with the first drawdown to be used to refinance the outstanding Sukuk, USD term loan and/or bridging loans of Binariang GSM Sdn Bhd (BGSM); the rating will be reassessed should there be any material deviations to BGSM Management’s total debt drawdown.

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