KUALA LUMPUR: MARC Ratings has assigned a final rating of AAAIS with a stable outlook to PNB Merdeka Ventures Sdn Bhd’s RM6 billion Merdeka Sukuk Wakalah programme.
The AAAIS rating is the highest on MARC’s scale for Islamic instruments, signifying extremely strong credit quality and very low risk of default.
MARC said it had reviewed the executed transaction documents and was satisfied that they did not differ materially from the preliminary draft.
The agency first assigned a preliminary AAAIS rating to the programme on Aug 26.
PNB Merdeka Ventures, a wholly-owned subsidiary of Permodalan Nasional Bhd, is the master developer of the Merdeka 118 precinct in the capital.
It is also custodian of Stadium Merdeka and Stadium Negara, both designated national heritage sites.
The Merdeka 118 development includes the 118-storey tower rising 678.9 metres, recognised as the tallest building in Malaysia and among the tallest in the world.
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