CREDIT RATING REVIEW
The Group actively engages with Malaysian Rating Corporation Berhad (“MARC”), the credit rating agency that provides an independent assessment of the Group’s credit metrics and financial standing.
MARC has upgraded DRB-HICOM’s Sukuk Wakalah Programme rating to AA-IS from A+IS with a stable outlook. Accordingly, the Perpetual Sukuk programme rating was also upgraded to AIS from A-IS with a stable outlook. The two-notch rating differential between the programmes reflects the subordination of the Perpetual Sukuk to the senior sukuk.
The rating upgrade incorporates DRB-HICOM’s strengthened credit profile from the robust performance of its automotive operations in recent years, particularly the Group’s key subsidiary PROTON, which has sustained its significant turnaround performance. The improving leverage and healthy liquidity position at both the holding company and Group levels support the rating action.
