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MALAYAN CEMENT INDUSTRIES' PRIVATE DEBT SECURITIES UPGRADED.
KUALA LUMPUR, Dec 14 (Bernama) -- The long- and short-term ratings of Malayan Cement Industries Sdn Bhd's RM850 million Syndicated Notes Issuance Programme (1997/2004) (NIP), have been upgreaded from A3(s) and P2 to A2(s) and P1(s) respectively by Rating Agency Malaysia Bhd.
RAM said in a statement here today that the enhanced ratings reflect the credit strength of Malayan Cement Holdings, the ultimate holding company of Malayan Cement Industries via its stake in Kedah Cement Holdings Bhd.
MCement is guaranteeing the fulfilment of all obligations relating to MCISB's RM850 million NIP, which is covered by the corporate guarantee issued by KCHB.
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