Launch Partners

Friday, September 30, 2022

Launch Partners

‘AA3’ long-term rating on Cypark Resources’s RM550 million (US$125.43 million) SRI Sukuk Murabahah program reaffirmed

MALAYSIA: RAM has reaffirmed the ‘AA3’ long-term rating on Cypark Resources’s RM550 million (US$125.43 million) Sustainable and Responsible Investment Sukuk Murabahah program (2019/2041) with a negative outlook, a bourse filing confirmed.  

The rating indicates high safety for payment of financial obligations while the outlook reflects the rating agency’s concerns of extended construction delays for company’s two floating solar plants at Danau Tok Uban beyond its stressed timeline.  

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