03 : 06 PM - 30/07/2012
Manama,July 30 (BNA) -- Bahrain Mumtalakat Holding Company (“Mumtalakat”) is pleased, following an extensive review process, to have secured a strong investment grade rating of AA2 by RAM Ratings Berhad (“RAM Ratings”) of Malaysia.
Commenting on this rating, Mahmood Al Kooheji, Chief Executive Officer of Mumtalakat said:
“Mumtalakat sought this rating as part of its objective to pursue the highest levels of transparency, and provide platforms to keep institutional investors informed about the Company and Bahrain.
Furthermore, Mumtalakat has established a 20-year, MYR 3 billion (BHD 360 million) medium-term Sukuk programme, as part of the Company’s strategy to proactively manage its long-term refinancing and debt maturity profile.
“Bahrain and Malaysia have a rich history of engagement on a variety of economic and strategic fronts and, in particular, both countries are leaders and innovators in Islamic Finance. Mumtalakat, as the investment arm holding company for the Kingdom’s non-oil and gas strategic assets, is committed to exploring future opportunities to further strengthen ties between the two countries’ business communities.”
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Last updated : 03 : 06 PM - 30/07/2012