Tuesday 01, March 2016 by Matthew Amlôt

MARC assigns preliminary ratings to MEX II SDN BHD’s issuances

MARC has assigned preliminary ratings of AA-IS and A- to special purpose company MEX II Sdn Bhd’s (MEX II) proposed RM1.3 billion Sukuk Murabahah Programme (Sukuk Murabahah) and RM150 million Junior Bonds issuance (Junior Bonds). The outlook on the ratings is stable. The three-notch rating differential between the Sukuk Murabahah and Junior Bonds reflects the latter’s subordinated position, its deferred profit payment risk and its non-amortising repayment profile.

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