PETALING JAYA: RAM Ratings has reaffirmed the AA2 rating of Widad Capital Sdn Bhd’s (WCSB) sukuk murabahah programme of up to RM110mil in nominal value from stable to positive.
“The rating outlook has been revised from stable to positive, premised on the company exceeding our expectations by recording a better-than-expected finance service coverage ratio of above 1.90 times in the last two years and this trend is anticipated to continue – on a projected basis, ” RAM said in a statement.
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