[RAM] RAM Ratings assigns final AAA rating to KIP REIT Capital's 2026-Issue 6 Class A MTN

RAM Ratings has assigned a final AAA/Stable rating to the RM175 mil 2026-Issue 6 Class A Medium-Term Notes (MTN) under KIP REIT Capital Sdn Bhd’s RM2.0 bil Perpetual MTN Programme. KIP REIT Capital is the funding vehicle for KIP Real Estate Investment Trust (KIP REIT) under the programme.

The 2026-Issue 6 MTN is secured by three retail properties: Setapak Central Mall, KIPMall Desa Coalfields and Lotus’s Indera Mahkota. Proceeds of the issuance will partly finance KIP REIT’s proposed acquisition of Setapak Central Mall.



The final rating follows RAM’s review of the transaction’s final terms (including issuance size, tenure and coupon rates) and documentation, which remain in line with expectations when the preliminary rating was assigned in August 2026 (click here). Please refer to the final rating rationale for further details.

We will continue to monitor the transaction, keeping the rating under surveillance while the Class A MTN remains outstanding.


Analytical contacts
Tan Yan Choong
(603) 2708 8256
yanchoong@ram.com.my

Tan Han Nee 
(603) 2708 8322
hannee@ram.com.my

Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my