Launch Partners

Tuesday, June 18, 2024

Launch Partners

RAM reaffirms ‘AA2/Stable’ rating on Edra Solar’s ASEAN Sustainability SRI Sukuk worth RM245 million (US$51.88 million)

MALAYSIA: RAM has reaffirmed its ‘AA2/Stable’ rating on Edra Solar’s RM245 million (US$51.88 million) ASEAN Sustainability SRI Sukuk, a statement read.

The rating reflects the sound project economics of the company’s 50 MWac solar photovoltaic plant in Kedah, while the company’s favorable power purchase agreement with Tenaga Nasional and the plant’s robust operational performance underline Edra Solar’s sturdy debt coverage, said RAM.

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