Rating Announcements

MARC Ratings has downgraded its rating on Zetrix AI Berhad’s Islamic Medium-Term Notes Programme of up to RM2.0 billion to a default rating of DIS. This downgrade follows Zetrix AI’s failure to settle an outstanding RM25.0 million obligation due today, 6 November 2026. The rating had previously been lowered to CIS on 30 October 2026. […]

MARC Ratings has assigned a final rating of AIS/Stable to Winstar Capital Berhad’s (Winstar) Islamic Medium-Term Notes (IMTN) Programme of up to RM300.0 million. The rating agency has reviewed the final documentation for the IMTN Programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation

MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) RM700.0 million Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BIS from BBIS and placed the rating on MARCWatch Negative. The downgrade reflects YNH’s materially weakened liquidity profile and heightened refinancing and repayment risk, underpinned by weak internal cash flow generation, continued dependence on asset

MARC Ratings has assigned a preliminary rating of AA+IS to Weststar Aviation Sdn Bhd’s (WAVI) proposed Islamic Medium-Term Notes Programme of up to RM6.0 billion. The rating outlook is stable. The rating reflects strong and predictable cash flows from the Government of Malaysia under an 18-year concession administered by Majlis Keselamatan Negara (MKN), which includes

MARC Ratings has upgraded its rating on port operator Johor Port Berhad’s (JPB) Islamic Medium-Term Notes (IMTN) Programme to AAIS and revised the outlook to stable from positive. The rating on the Islamic Commercial Papers Programme has been affirmed at MARC-1IS. The programmes have a combined aggregate limit of RM1.0 billion with the current outstanding

MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s (WCT) debt/sukuk programmes and the rating outlook on all programmes has been maintained at positive. The group’s rated issuances are as follows: RM5.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programmes at A+IS /A-IS RM1.0 billion Medium-Term Notes Programme at A+ RM1.5 billion Sukuk Murabahah

MARC Ratings has affirmed the AAIS /AA ratings on funding vehicle OSK Rated Bond Sdn Bhd’s (OSKRB) Sukuk Murabahah/ Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM3.5 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes issued under the programmes. The programmes carry an unconditional and

MARC Ratings has assigned a preliminary AA-IS rating to Sungai Udang WTE Sdn Bhd’s (SUWTE) proposed RM700.0 million ASEAN Green SRI Sukuk Wakalah Programme, with a stable outlook. SUWTE is a special purpose vehicle established to develop and operate a 22.1MW waste-to-energy (WTE) facility in Sungai Udang, Melaka, under a 34-year concession agreement (CA) with

MARC Ratings has assigned a preliminary AA+IS rating, with a stable outlook, to TI TNB Genco Solar Kenyir 1 Sdn Bhd’s (TTSK1) proposed ASEAN Sustainability Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM2.0 billion. TTSK1 is a special-purpose vehicle established to develop, own and operate a 595MWac floating solar facility with a

MARC Ratings has assigned a rating of AA-IS to TDM Berhad’s Islamic Medium-Term Notes (Sukuk Wakalah) Programme of RM1.5 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar, with a stable outlook. The assigned rating incorporates a one-notch rating uplift based on MARC Ratings’ assessment of implicit support from the Terengganu