MARC affirms Sime’s debt note ratings, outlook negative

PETALING JAYA: Malaysian Rating Corp Bhd (MARC) has affirmed its ratings for Sime Darby Bhd’s debt notes but retained the outlook at negative over the proposed move to set up three standalone entities.

MARC affirmed its ratings of MARC-1IS/AAAIS and AAIS on Sime’s Islamic commercial paper/Islamic medium-term note (ICP/IMTN) programme with a combined limit of RM4.5bil and perpetual subordinated Sukuk programme of up to RM3bil respectively.