MDV’s “A” credit rating reaffimed
KUALA LUMPUR: RAM Ratings has reaffirmed Malaysia Debt Ventures Bhd’s (MDV) AA3 corporate credit rating and a short-term rating of P1 with a stable outlook.
MDV said in a statement that the ratings also covers its RM2.0 billion conventional and islamic commercial papers/medium-term notes programme which was established in 2022.
The company said the rating highlighted its strategic role as the country’s key technology financier apart from receiving unwavering government support.
The rating also emphasised MDV’s contribution in bolstering the national economy, which reflected Malaysia’s goal to nurture its tech sector particularly within the small and medium enterprises (SMEs).
MDV chief executive officer Nizam Mohamed Nadzri said the ratings highlighted its dedication to its mandate and the trust by stakeholders and government.
Nizam said the rating boost MDV’s capability to explore more external funding that enhance its role in accelerating growth and development of the technology sector.
“We are particularly pleased with the reaffirmation of our RM2.0 billion sukuk/bond programme, given that the funds raised from this programme are pertinent to MDV’s ongoing efforts in supporting high-potential technology companies, such as those in the ICT and communications sectors.
“With Malaysia standing on the precipice of a digital and energy transformation, a thriving and well-supported technology sector is vital in achieving the objectives of the Ekonomi Madani, and MDV is committed to continue playing a pivotal role in this transformation,” he said.
MDV was first assigned its corporate ratings in 2019 as part of its long-term strategy to achieve financial self-sufficiency and lessen reliance on government financial support.