MARC Ratings has assigned a final rating of AA+_IS to TNB Kuala Muda Solar Sdn Bhd’s (TKMS) proposed ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM1.05 billion with a stable outlook.

The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.

For full details on the assigned rating, please see TKMS’s preliminary rating announcement dated 5 March 2026. The full credit analysis report is available at https://online.marc.com.my/.