KUALA LUMPUR: Malaysian Rating Corporation (MARC) has affirmed its AA- rating on Segi Astana Sdn Bhd’s RM415mil Asean Green Medium-Term Notes facility (MTN facility). The outlook is revised to stable from negative.
“Segi Astana’s rating and the outlook mirror its parent WCT Holdings’ senior debt ratings of AA- with stable outlook which was revised from negative on Aug 28,2019, ” it said on Wednesday.
MARC said this assessment was based on an undertaking from WCT to provide a shareholder’s advance or obtain an unconditional bank guarantee for the outstanding RM135mil under the MTN in the final year of the facility in 2028 if a planned refinancing for the amount is not in place.
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