RAM Ratings reaffirms AAA(s) rating of Muhibbah’s Islamic Bonds

The AAA(s) rating of Muhibbah Engineering Bhd's RM130 million Islamic Bonds has been reaffirmed by RAM Ratings. Thus, Muhibbah's irrevocable and unconditional undertaking to purchase and cancel all the Islamic Bonds at the exercise price upon the declaration of an event of default is honoured. The support of Malayan Banking Berhad's guarantee will have a positive impact on the credit profile of the Islamic Bonds beyond Muhibbah's inherent or stand-alone credit standing.

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