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Credit Rating Downgrade of MMF Notes- MMF101, MMF201 and MMF 301
MMELA MOBILITY FINANCE (RF) LIMITED
("the Issuer" or "the Company")
(Registration Number: 2015/231615/06)
Stock Codes: MMF101, MMF201 and MMF 301
Date: 6 August 2018
CREDIT RATING DOWNGRADE OF MMELA MOBILITY FINANCE (RF) LIMITED NOTES
The Issuer send out an announcement on the 20 July 2018, noting that rating report published
by Global Credit Ratings (“GCR”) on the 18 July 2018 by GCR was without any notice or
forewarning to the Arranger, Administrator or the Issuer and without taking into account
many of the comments submitted to GCR by those parties.
Following the original rating report referred to above, GCR published a Surveillance Report
on 27 July 2018. The report did take some of the comments into account, however the report
stated on page 10 that “The credit ratings have been disclosed to the Arranger with no
contestation of the ratings.”. However, the Arranger, the Administrator and the Issuer all
expressed strong disagreement with GCR on the proposed downgraded rating for the Class A
Note prior to the release of the report.
For further details of the rating action taken on the Notes issued on Mmela Mobility Finance
(RF) Limited please refer to GCR’s website for the press release.
Redinkcapital Proprietary Limited
Debt Sponsor
6 August 2018
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