PRESS RELEASES
RAM Ratings withdraws preliminary rating of Zikay’s proposed Sukuk Wakalah Programme
Published on 17 Apr 2024.
RAM Ratings has received confirmation from the sponsor, Zikay Factoring Sdn Bhd, that its funding conduit – Qiradh Capital Sdn Bhd (the Issuer) – will not proceed with the final rating exercise for its Senior Sukuk, to be issued under Qiradh’s 10-year RM200 mil Sukuk Wakalah Programme. We have therefore withdrawn the AA3/Stable preliminary rating of the Senior Sukuk and no longer have any rating obligation in respect of it.
Analytical contact
Tan Han Nee
(603) 3385 2529
hannee@ram.com.my
The credit rating is not a recommendation to purchase, sell or hold a security, inasmuch as it does not comment on the security’s market price or its suitability for a particular investor, nor does it involve any audit by RAM Ratings. The credit rating also does not reflect the legality and enforceability of financial obligations.
RAM Ratings receives compensation for its rating services, normally paid by the issuers of such securities or the rated entity, and sometimes third parties participating in marketing the securities, insurers, guarantors, other obligors, underwriters, etc. The receipt of this compensation has no influence on RAM Ratings’ credit opinions or other analytical processes. In all instances, RAM Ratings is committed to preserving the objectivity, integrity and independence of its ratings. Rating fees are communicated to clients prior to the issuance of rating opinions. While RAM Ratings reserves the right to disseminate the ratings, it receives no payment for doing so, except for subscriptions to its publications.
Similarly, the disclaimers above also apply to RAM Ratings’ credit-related analyses and commentaries, where relevant.
Published by RAM Rating Services Berhad
© Copyright 2024 by RAM Rating Services Berhad