KUALA LUMPUR: RAM Rating Services Bhd upgraded the rating of Syarikat Borcos Shipping Sdn Bhd's RM160mil Sukuk Ijarah medium-term notes (2008/2014) from A1 to AA3 and revised the outlook to stable from negative.
The rating agency said on Tuesday the enhanced ratings reflected the unconditional and irrevocable Kafalah guarantee extended by Bank Pembangunan Malaysia Bhd (BPMB).
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