Power your future

Our credit ratings are forward-looking opinions on the capacity and willingness of an entity to meet its overall financial commitments, as well as on specific bond/sukuk programmes.

Get it now with only RM500/report

*This report is fulfilled by RAM Rating Services Bhd

RAM Credit Rating

The independent ratings and analysis from RAM Ratings help issuers access the capital markets at competitive pricing levels and broaden their investor bases.

National Rating

Types of Rating


Corporate Credit Ratings
Financial Institution Ratings
Insurer Financial Strength Ratings
Sovereign Credit Ratings


Issue Ratings
Debt-Based Sukuk
Partnership-Based Sukuk

Rating Process

  • 1. Process starts when RAM Ratings is mandated to provide rating

    The rating process commences when the potential issuer approaches and appoints RAM Ratings to provide a rating. The relationship is formalised via a rating mandate between the entity to be rated and RAM Ratings. A rating team, comprising 2 to 3 analysts, will be formed to undertake the rating exercise.

  • 2. Information request

    RAM Ratings will request for a set of background information and materials from the entity. The information requested for may vary among rated entities, but typically comprises the following:
    • Information on the industry(ies) in which the entity operates.
    • Overview of the entity’s operations, and supporting statistics.
    • Financial information.
    • Principal terms and conditions of the proposed debt issue(s).
    RAM Ratings does not perform any audit on the information provided by the rated entity or its advisors/agents. Information provided by the entity is deemed accurate.

  • 3. Meeting with key management

    After reviewing the information, RAM Ratings’ analysts will meet with the key management personnel of the entity. This is an integral part of the rating process, which provides the rating team an avenue to better understand certain trends in the entity’s operating performance, besides gaining insights into its prospects and plans for the future.

  • 4. Deliberation by Rating Committee

    Pursuant to the management meeting, the rating team will finalise and submit a report (including the recommended rating) to the Rating Committee. The recommendation is premised on information obtained from the entity, as well as the rating team’s own research and assessment (structured according to RAM Ratings’ established methodologies and analytical framework).

  • 5. Entity notified of outcome

    Once the rating has been determined, the rated entity is notified of the rating and the key rating considerations. At this stage, the rated entity may do any of the following:
    • Accept the rating.
    • Appeal for reconsideration (by submitting new or additional information).
    • Reject the rating.
    In the event of an appeal, the Rating Committee will reconvene to deliberate on the new information. The outcome will then be made known to the rated entity. If it decides not to accept the rating (prior to or after an appeal), the rating process will be terminated; any rating assigned up to that point will be deemed lapsed. The option to reject a rating is only available during the initial rating of a debt issue.

  • 6. Public dissemination of rating

    Once the rating has been accepted by the rated entity, RAM Ratings will disseminate the rating (and the rating rationale) via the media and our website. Prior to the public release of the rating rationale, a copy will be made available to the rated entity for discussion between the parties involved.

  • 7. Surveillance

    RAM Ratings will monitor all assigned ratings throughout the life of each debt issue. In any event, a formal surveillance exercise is scheduled at least once a year. RAM Ratings may, from time to time, also request for additional information and/or meet up with the management to discuss and obtain clarification on any development which may affect the rated entity. RAM Ratings will employ its best efforts to advise the rated entity in advance of any proposed change to the rating, but reserves the right to take such action without prior notice to, or approval of, the rated entity.

  • 8. Confidentiality of information

    RAM Ratings will uphold the confidentiality of all information provided by or on behalf of the rated entity, except for information that is publicly available or had already been in our possession prior to it being made available by the rated entity.

  • 9. Timeline of rating process

    Depending on the level of cooperation from and the responsiveness of the rated entity, the rating process takes about 4 to 6 weeks, from the day of receipt of the mandate and/or information until a decision by the Rating Committee. An initial rating exercise typically takes longer than annual surveillance/reviews.

Fill up the form below and submit to get your voucher code

  • Your Contact Details