Lafarge Malayan Cement’s RM350 million (US$109 million) Al-Murabahah commercial papers/medium-term notes (CP/MTN) have been assigned ‘A1’ and ‘P1’ for its long-term and short-term ratings, respectively by RAM Ratings.
The ratings are reflective of the group’s credit strength, which is supported by its position as the largest cement company in Malaysia, and its strong financial profile. Lafarge’s balance sheet remains stable even after taking additional debts amounting to RM249 million (US$77.3 million), which will be used to partially finance its RM566.46 million (US$176 million) capital repayments to shareholders in the fourth quarter of the year.