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MARC Ratings has assigned a final rating of AIS(cg) to Eco World Perpetual Capital Berhad’s RM2.0 billion Perpetual Sukuk Wakalah (Perpetual Sukuk) Programme. The rating outlook is stable. 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 […]
MARC Ratings has affirmed its A+IS and A-IS ratings on Yinson Holdings Berhad’s (YHB) RM1.0 billion Islamic Medium-Term Notes Programme (Senior Sukuk) and RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential between the Senior Sukuk and Perpetual Sukuk reflects MARC Ratings’ application of its notching approach to subordinated debt and
MARC Ratings affirms ratings on Yinson’s programmes Read More »
MARC Ratings has affirmed Sabah’s sub-sovereign credit rating at AAA with a stable outlook, based on the rating agency’s sub-sovereign rating scale. This is an unsolicited rating based on public information. The affirmation reflects Sabah’s continued fiscal strength, underpinned by substantial natural resource wealth which contributes to the state’s revenue, sizeable fiscal buffers, and strong
MARC Ratings affirms Sabah’s sub-sovereign rating at AAA Read More »
MARC Ratings has affirmed its MARC-1 rating on Merchantrade Asia Sdn Bhd’s (Merchantrade) Multi-Currency Commercial Papers (CP) Programme of up to RM200 million in nominal value. The rating is confined to ringgit-denominated issuances under the programme. The affirmed rating reflects Merchantrade’s established position in retail cross-border money transfers, accounting for 25% of domestic outbound remittances
MARC Ratings affirms MARC-1 rating on Merchantrade’s Commercial Papers Programme Read More »
MARC Ratings has assigned a corporate credit rating of AAA with a stable outlook to Pantai Holdings Sdn Bhd, a wholly-owned subsidiary of IHH Healthcare Berhad (IHH or “the Group”). Pantai Holdings, operating as IHH Healthcare Malaysia, operates 18 hospitals nationwide and contributed approximately 17% of the Group’s consolidated revenue and 19% of consolidated EBITDA
MARC Ratings assigns AAA corporate credit rating to Pantai Holdings Read More »
MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.08 billion sukuk with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, which operates a combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an
MARC Ratings affirms AAAIS rating on TNB Northern’s sukuk Read More »
MARC Ratings has affirmed its AA-IS rating on SHC Capital Sdn Bhd’s RM80 million issuance under its RM200 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme with a stable outlook. SHC Capital is a wholly-owned funding vehicle of Tunas Cool Energy Sdn Bhd (TUNAS), which is a subsidiary of Sin Heng Chan (Malaya) Berhad. TUNAS owns
MARC Ratings affirms SHC Capital’s AA-IS rating Read More »
MARC Ratings has assigned a sub-sovereign credit rating of AA- with a stable outlook to the state of Kedah, based on the rating agency’s sub-sovereign rating scale. This is an unsolicited rating based on public information. Kedah’s rating is underpinned by its rising economic growth potential, supported by an expanding industrial base, and generally prudent
MARC Ratings assigns sub-sovereign rating of AA- to Kedah Read More »
MARC Ratings has affirmed its AA- rating on 7-Eleven Malaysia Holdings Berhad’s (7-Eleven Holdings) RM600.0 million Medium-Term Notes (MTN) Programme with a stable outlook. The programme has an outstanding of RM350.0 million. 7-Eleven Holdings’ entrenched market position in the domestic convenience store segment and its long operating track record remain key rating strengths. These strengths
MARC Ratings affirms AA- rating on 7-Eleven Holdings’ MTN Programme Read More »
MARC Ratings has affirmed its AA-IS /Stable rating on AFA PRIME Berhad’s (formerly ANIH Berhad) RM2.5 billion Senior Sukuk Musharakah Programme. The current outstanding amount is RM1.1 billion. AFA PRIME is the toll concessionaire for the 60-km Kuala Lumpur-Karak Highway (KL-Karak) and the 174.5-km East Coast Expressway Phase 1 (ECE1). Since MARC Ratings’ last review,
MARC Ratings affirms AFA PRIME’s AA-IS rating Read More »