Launch Partners

Wednesday, February 21, 2024

Launch Partners

RP Hydro (Kelantan)’s proposed green Sukuk facility receives preliminary rating of ‘AA3’ from RAM

MALAYSIA: RAM has assigned a preliminary rating of ‘AA3/Stable’ to RP Hydro (Kelantan)’s proposed ASEAN Green SRI Sukuk under the Shariah principle of Wakalah Bi Istithmar worth up to RM975 million (US$219.87 million).

According to a note from the agency, the rating considers an issuance size of RM960 million (US$216.48 million), and reflects RP Hydro’s sturdy project fundamentals underscored by favorable renewable energy power purchase agreement terms and low offtake risk.

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