KUALA LUMPUR: RAM Ratings has upgraded UEM Group Bhd’s RM2.2 billion Islamic Medium-Term Notes (IMTN) Programme (2012/2042) from AA 2/Stable to AA 1/Stable, issued through funding vehicle United Growth Bhd.
It has also assigned an AA 1 (s)/Stable rating to the proposed IMTN programme of up to RM7.0 billion under another funding vehicle, UEM Olive Capital Bhd, which is a wholly-owned subsidiary of UEM.
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