RAM assigns rating to Widad Group unit’s RM310m sukuk

WGB group managing director Datuk (Dr) Mohd Rizal Mohd Jaafar, “The AA1 stable rating assigned by RAM reinforces WGB’s confidence in its vision to continue building a robust business that emphasizes growth, productivity and financial strength."

KUALA LUMPUR: RAM Ratings has assigned a preliminary AA1/Stable rating to Widad Concession Sdn Bhd’s proposed RM310mil Sukuk Wakalah facility.

It said on Friday Widad Concession, a unit of Widad Group Berhad (WGB), was set up to finance the acquisition cost of the private public partnership (PPP) or project finance initiative (PFI) project held by YBK Usahasama Sdn Bhd (YBKU).