KUALA LUMPUR: RAM Ratings has reaffirmed the respective AAA(bg) and AAA(fg) ratings of Tranche 1 and Tranche 2 of NUR Power Sdn Bhd’s RM650mil guaranteed sukuk Mudharabah (2012/2027), with a stable outlook.
The enhanced ratings reflected an irrevocable and unconditional bank guarantee from Maybank Islamic Bhd and a financial guarantee from Danajamin Nasional Bhd, which enhanced the credit profile of the sukuk beyond NUR Power’s stand-alone credit strength, it said in a statement.
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