Rating Announcements

MARC Ratings assigns final ratings of AAA/AAAIS to Cagamas’ RM80.0 billion MTN/IMTN Programmes

MARC Ratings has assigned final ratings of AAA/AAAIS to Cagamas Berhad’s RM80.0 billion Conventional/Islamic Medium-Term Notes (MTN/IMTN) Programmes. The outlook on the ratings is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documentation …

MARC Ratings assigns final ratings of AAA/AAAIS to Cagamas’ RM80.0 billion MTN/IMTN Programmes Read More »

MARC Ratings affirms ratings on Bank Pembangunan following acquisition of two development financial institutions

MARC Ratings has affirmed its AAA financial institution (FI) rating on Bank Pembangunan Malaysia Berhad (BPMB) following the bank’s acquisition of two development financial institutions (DFI), namely Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank) and Export-Import Bank of Malaysia Berhad (EXIM Bank). BPMB acquired the DFIs from Minister of Finance (Incorporated) (MOF Inc). …

MARC Ratings affirms ratings on Bank Pembangunan following acquisition of two development financial institutions Read More »

MARC Ratings affirms AA-IS rating on QSP Semenanjung’s Sukuk

MARC Ratings has affirmed its AA-IS rating on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) outstanding RM665.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. QSP Semenanjung owns three 50MW power plants located in Gurun, Kedah; Jasin, Melaka; and Merchang, Terengganu. The rating is underpinned by QSP Semenanjung’s diversified portfolio …

MARC Ratings affirms AA-IS rating on QSP Semenanjung’s Sukuk Read More »

MARC Ratings assigns preliminary ratings to S P Setia’s proposed sukuk programmes

MARC Ratings has assigned preliminary ratings to S P Setia Berhad’s proposed sukuk programmes as follows: RM3.5 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme with a sublimit of RM1.5 billion on the Perpetual Sukuk at AAIS /A+IS. The ratings outlook is stable. RM500.0 million Islamic Commercial Papers Programme at MARC-1IS. MARC Ratings maintains its …

MARC Ratings assigns preliminary ratings to S P Setia’s proposed sukuk programmes Read More »

MARC Ratings revises Sinar Kamiri’s rating outlook to positive

MARC Ratings has revised its rating outlook on Sinar Kamiri Sdn Bhd’s outstanding RM170.0 million ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah to positive from stable. Concurrently, the AA-IS rating on the Sukuk Wakalah has been affirmed. The rating agency will upgrade Sinar Kamiri’s rating within the next 6–12 months provided the current …

MARC Ratings revises Sinar Kamiri’s rating outlook to positive Read More »

MARC Ratings publishes revised rating methodologies on financial institutions and Basel III-compliant capital instruments

MARC Ratings has revised its rating methodologies on financial institutions (FIs) as well as debt issuances qualifying for Basel III capital treatment issued by FIs and their financial holding companies. The methodology revisions do not represent fundamental shifts in MARC Ratings’ approaches but are intended to better align with recent trends in the financial services …

MARC Ratings publishes revised rating methodologies on financial institutions and Basel III-compliant capital instruments Read More »

MARC Ratings affirms Top Glove unit’s RM3.0 billion IMTN/ Perpetual Sukuk Programme ratings at AA-IS(CG)/AIS(CG)

MARC Ratings has affirmed its ratings on funding vehicle TG Treasury Berhad’s RM3.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programme at AA-IS(cg)/AIS(cg). The outlook on the ratings is stable. The IMTN/ Perpetual Sukuk carry an irrevocable and unconditional guarantee from TG Treasury’s parent Top Glove Corporation Bhd (Top Glove); therefore, the senior-ranked IMTN rating …

MARC Ratings affirms Top Glove unit’s RM3.0 billion IMTN/ Perpetual Sukuk Programme ratings at AA-IS(CG)/AIS(CG) Read More »