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.