Rating Announcements

MARC Ratings has withdrawn its rating of AAIS on Cellco Capital Berhad’s (Cellco) RM130 million Islamic Medium-Term Notes (Issue 2) under its Sukuk Ijarah Programmes of up to RM1.0 billion, following a request from the company, which is currently reassessing the overall structure and strategy for the issuance. There is no outstanding under Issue 2.

MARC Ratings has assigned a final rating of MARC-1IS to S P Setia Berhad’s RM500.0 million Islamic Commercial Papers (ICP) Programme. 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

MARC Ratings has affirmed its ratings of MARC-1IS/AAIS on Northport (Malaysia) Bhd’s RM1.0 billion Islamic Commercial Papers (ICP) Programme/ Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah Programmes). The ICP programme has a sublimit of RM500 million. The long-term rating outlook is stable. The current outstanding under the programme comprises RM500.0 million IMTN. Northport’s well-established operational

MARC Ratings has affirmed its financial institution rating on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) at AAA, and its ratings on the bank’s existing Islamic Medium-Term Notes/ Islamic Commercial Papers Programmes (with a combined limit of RM3.0 billion) at AAAIS/MARC-1IS. The outlook on the ratings is stable. The affirmation reflects SME Bank’s

MARC Ratings has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) Programme with a stable outlook. Currently, RM350.0 million is outstanding under the programme. ACSB is a funding vehicle for Ahmad Zaki Resources Berhad (AZRB). The proceeds of RM535.0 million from issuances under the programme have

MARC Ratings has affirmed MBSB Berhad’s A+/MARC-1 corporate credit ratings with a stable outlook. The ratings reflect MBSB’s role as a non-operating financial holding company whose credit profile mirrors that of its core, wholly-owned subsidiary, MBSB Bank Berhad (A+/Stable). With no borrowings, and earnings mainly coming from MBSB Bank’s dividends, MBSB’s performance is closely tied

MARC Ratings has affirmed MBSB Bank Berhad’s A+ financial institution (FI) rating and the A+IS rating on the bank’s RM5.0 billion Sustainability Sukuk Wakalah Programme. In line with the rating agency’s revised methodology for rating Basel III–compliant capital instruments, MARC Ratings has also revised the ratings of instruments under the bank’s Sukuk Wakalah Programme of

MARC Ratings has affirmed its ratings of MARC-1IS /AAIS on Cellco Capital Berhad’s (Cellco) RM520 million Issue 1 under its Islamic Commercial Papers/ Islamic Medium-Term Notes Programme (Sukuk Ijarah) with a combined limit of up to RM1.0 billion. The long-term rating outlook is stable. Cellco is a special-purpose vehicle established to raise funds under the

MARC Ratings has affirmed its long-term and short-term financial institution (FI) ratings of A+/MARC-1 on Kenanga Investment Bank Berhad (Kenanga). Concurrently, the long-term rating outlook has been revised to stable from positive. The ratings affirmation reflects Kenanga’s strong market position in the domestic stockbroking industry. The outlook revision reflects the bank’s overall performance which has