MARC Ratings has withdrawn its ratings of AAA(bg) on Berjaya Land Berhad's RM500.0 million Medium-Term Notes (MTN) Programme and AAA(bg) on its RM150.0 million MTN Programme. The programmes carried guarantees from Bank Pembangunan Malaysia Berhad and OCBC Bank (Malaysia) Berhad. 

The ratings withdrawal follows the early redemption of the outstanding amount of RM150.0 million under the RM500.0 million guaranteed MTN programme on October 31, 2023. There was no outstanding under the other programme. The programmes were cancelled on November 2, 2023, as confirmed by the facility agent. Accordingly, MARC Ratings will no longer provide analytical coverage on Berjaya Land.

Contacts:
Umar Abdul Aziz, +603-2717 2962/ [email protected]
Taufiq Kamal, +603-2717 2951/ [email protected]

November 10, 2023

[This announcement is available on MARC's corporate website at www.marc.com.my]

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This communication is provided by Malaysian Rating Corporation Berhad and any of its subsidiaries or affiliates (''MARC'') based on the information, reasonably believed by MARC to be accurate and reliable to the greatest extent, derived from publicly available sources or provided by the rated entity or its agents. MARC, however, has not independently verified the source of such information and makes no representation as to the accuracy, completeness and timelines of such information. Any assignment of a credit rating by MARC shall at all times solely be construed as a statement of opinion and not a statement of fact. A credit rating is not a recommendation to buy, sell or hold any security and/or investment.

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202001041436 (1397757-W)

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