Saturday July 21, 2012
RAM ends rating obligation on CCM
KUALA LUMPUR: RAM Ratings has received confirmation that Chemical Co of Malaysia Bhd (CCM) has cancelled its RM500mil musharakah commercial papers/medium-term notes programmes (2008/2023) (MCP/MMTN) on July 18.
In a statement, RAM said that as such, it no longer had any rating obligation on the debt instrument, which had been rated AA3/P1 with a negative outlook on the long-term rating.
CCM had fully redeemed all outstanding notes under the MCP/MMTN on Nov 29. —Bernama