MARC withdraws ratings on Mulpha International's RM75m bank guaranteed MUNIF

KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has withdrawn the MARC-1ID(bg)/AA-ID(bg) ratings on Mulpha International Bhd's RM75 million Bank Guaranteed MUNIF with immediate effect.

The rating withdrawal was following the cancellation of the programme as confirmed by the facility agent, AmInvestment Bank Bhd, it said in a statement on Friday, Mar 11.

There were no notes outstanding under the facility prior to cancellation.

With the cancellation of the Bank Guaranteed MUNIF, MARC's rating coverage on Mulpha is now limited to its existing RM25 million Murabahah Commercial Papers/Medium Term Notes facility, which carry the ratings of MARC-1ID/AID/Stable. — Bernama