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GIC redeems MYR 600 million senior unsecured bonds.

Following the full redemption of Gulf Investment Corporation (GIC) MYR 600 million Senior Unsecured Bonds on 5 February 2013, RAM Ratings no longer has any rating obligation on the said debt facility, and the A rating on the instrument is no longer applicable.

In the meantime, RAM will maintain surveillance on GIC's A/P1 financial institution ratings as well as the A ratings of its MYR 400 million Senior Unsecured Bonds (2008/2023) and the securities issued under its MYR 3.5 billion Sukuk Wakalah bi Istithmar Programme (2011/2031). All the long-term ratings have a stable outlook.

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Publication:CPI Financial
Date:Mar 7, 2013
Words:112
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