KUALA LUMPUR: RAM Ratings has reaffirmed the AA2 long-term rating of Tanjung Bin Power Sdn Bhd’s sukuk ijarah programme of up to RM4.5bil in nominal value (2012/2029), with a “stable” outlook.
The rating reflects Tanjung Bin’s sturdy business profile, underscored by the favourable terms of its power purchase agreement (PPA) with Tenaga Nasional Bhd
(TNB), RAM said in a statement.
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