PETALING JAYA: MARC Ratings Bhd has affirmed its AAIS rating on S P Setia Bhd’s RM3bil Islamic medium-term notes (IMTN) programme with a stable outlook.
The credit rating agency noted that the initial proceeds of RM800mil from the issuance had been largely used by the property development company to fund capital injections into its joint-venture (JV) Battersea Power Station project in the United Kingdom.
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