General Announcement::Withdrawal of Participation in A.M. Best Credit Rating of ECICS Limited

Issuer & Securities

Issuer/ Manager
IFS CAPITAL LIMITED
Securities
IFS CAPITAL LIMITED - SG1A35000706 - I49
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
22-Sep-2018 10:10:21
Status
New
Announcement Sub Title
Withdrawal of Participation in A.M. Best Credit Rating of ECICS Limited
Announcement Reference
SG180922OTHRG8BK
Submitted By (Co./ Ind. Name)
Chionh Yi Chian
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of IFS Capital Limited (the "Company") wishes to announce that its wholly-owned subsidiary, ECICS Limited ("ECICS") has informed A.M. Best of its intention to withdraw from its participation in credit rating. ECICS with strong parental support, is of the view that credit rating is not necessary at this point in time for its current business.

Following ECICS' request to withdraw from credit rating in August 2018, A.M. Best, as part of their usual rating withdrawal process, has published a press release as attached.


By Order of the Board
Chionh Yi Chian
Company Secretary
22 September 2018

Attachments

SGX announcement_News Release by A.M. Best.pdf
Total size =243K