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RAM reaffirms Media Prima's rating
by hlk Wed 03 Aug 2011, 21:48
RAM Rating Services Bhd has reaffirmed the 'AAA(bg)' rating of Media Prima Bhd's RM170 million bank-guaranteed Medium-Term Notes programme (2007/2012) (MTN) with stable outlook.
In a statement today, RAM said the 'P1' rating of Media Prima's RM180 million Commercial Papers programme (2007/2014) (CP) has also been reaffirmed.
RAM said the enhanced rating of the MTN reflected the unconditional and irrevocable guarantee extended by Malayan Banking Bhd, which enhanced the credit profile of the debt issue beyond Media Prima's inherent or stand-alone credit position.
"Media Prima's stand-alone credit profile and 'P1' rating reflect its strong market position in the media industry, as well as its solid financial profile," it said.
It said Media Prima, however, was susceptible to economic cycles, given its substantial reliance on advertising expenditure, which tended to move in tandem with the country''s economic health. - Bernama
In a statement today, RAM said the 'P1' rating of Media Prima's RM180 million Commercial Papers programme (2007/2014) (CP) has also been reaffirmed.
RAM said the enhanced rating of the MTN reflected the unconditional and irrevocable guarantee extended by Malayan Banking Bhd, which enhanced the credit profile of the debt issue beyond Media Prima's inherent or stand-alone credit position.
"Media Prima's stand-alone credit profile and 'P1' rating reflect its strong market position in the media industry, as well as its solid financial profile," it said.
It said Media Prima, however, was susceptible to economic cycles, given its substantial reliance on advertising expenditure, which tended to move in tandem with the country''s economic health. - Bernama
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