RAM Ratings has reaffirmed the respective AA3/P1 and A2 ratings of Binariang GSM Sdn Bhd’s (“BGSM” or “the Group”) Senior Sukuk and Junior Sukuk. We have maintained the negative outlook on both long-term ratings. The Senior Sukuk consists of BGSM’s RM19 billion Islamic Medium-Term Notes Programme and RM2 billion Islamic Commercial Papers Programme. The Junior Sukuk refers to the Group’s USD900 million Cumulative Non-Convertible Islamic Junior Sukuk. BGSM is the investment-holding company with interest in Malaysia’s largest cellular operator, Maxis Berhad (“Maxis”), and Aircel Limited (“Aircel”) – the seventh-largest mobile operator in India and PT AXIS Telekom Indonesia – the fifth largest mobile operator in Indonesia.
RAM Ratings reaffirms Binariang GSM's sukuk ratings
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