RAM Ratings reaffirms AAA ratings of Tan Chong’s sponsored Notes Series 2011-A (RAM Holdings Berhad)

(Source: RAM Holdings Berhad) Published on 18 December 2013 RAM Ratings has reaffirmed the AAA/Stable ratings of Premium Commerce Berhad's (PCB) RM197 million Class A and Class B Notes Series 2011-A (collectively, the 2011-A Notes). As at 31 August 2013, an aggregate RM80 million of the Class A and Class B Notes remained outstanding. This transaction involves the securitisation of automobile hire-purchase (HP) receivables from TC Capital Resources Sdn Bhd (TC Cap) under PCB's RM2 billion MTN Programme. TC Cap is the HP financing arm of Tan Chong Motor Holdings Berhad, which in turn holds the sole rights for the assembly and distribution of Nissan and...