Launch Partners

Monday, June 17, 2024

Launch Partners

RAM lifts negative rating watch on Telekosang Hydro One’s senior Sukuk

MALAYSIA: The negative rating watch imposed by RAM on Telekosang Hydro One (TH1)’s RM470 million (US$103.65 million) ASEAN green SRI Sukuk has been lifted. The rating agency also reaffirmed the Sukuk offering’s ‘AA3’ rating, with a negative outlook. RAM explained in a statement that the combined cash flow generation from the small hydro power plants of TH1 and Telekosang Hydro Two supports the repayment of the senior Sukuk.

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