Rating Announcements

MARC Ratings has affirmed its rating on Ranhill Powertron II Sdn Bhd’s (RPII) RM350.0 million Islamic Medium-Term Notes (IMTN) at AAAIS(bg) with a stable outlook. The affirmation reflects the unconditional and irrevocable guarantee from Bank Pembangunan Malaysia Berhad (BPMB) which carries a financial institution rating of AAA/Stable from MARC Ratings. BPMB replaced Danajamin Nasional Berhad …

MARC Ratings affirms Ranhill Powertron II’s rating with stable outlook Read More »

MARC Ratings has affirmed its AA-IS rating on Farm Fresh Berhad’s Islamic Medium-Term Notes (IMTN) Programme of RM1.0 billion under the Shariah principle of Wakalah Bi Al-Istithmar. The rating outlook is stable. Farm Fresh remains the largest vertically integrated dairy farming player domestically with a well-established distribution network. It currently operates 2,829 acres of farmland …

MARC Ratings affirms Farm Fresh’s rating at AA-_IS Read More »

MARC Ratings has downgraded its ratings on Tropicana Corporation Berhad’s RM1.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Wakalah) and RM2.0 billion Perpetual Sukuk programme to AIS and A-IS from A+IS and AIS. The outstanding under the Sukuk Wakalah and Perpetual Sukuk programme currently stands at RM1.5 billion and RM648.0 million. The ratings outlook remains …

MARC Ratings downgrades Tropicana’s ratings Read More »

MARC Ratings has assigned preliminary ratings of MARC-1IS/AAAIS to PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined limit of up to RM10.0 billion in nominal value. The ratings outlook is stable. PDB’s well-established domestic track record in the retailing and marketing of petroleum products and …

MARC Ratings assigns preliminary ratings of MARC-1_IS/AAA_IS to Petronas Dagangan’s RM10.0 billion Sukuk programmes Read More »

MARC Ratings has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds with a stable outlook. Kesturi benefits from its highway routes linking matured and densely populated areas, such as Damansara, Mont Kiara, Sri Hartamas, Ulu Kelang …

MARC Ratings affirms AA-_IS and A- ratings on Kesturi’s RM2.3 billion Senior Sukuk and RM180 million Junior Bonds Read More »

MARC Ratings has assigned final ratings of MARC-1IS/AAIS to Alam Flora Sdn Bhd’s RM700 million Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes. The ratings outlook 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 …

MARC Ratings assigns final ratings of MARC-1_IS/AA_IS to Alam Flora’s RM700.0 million sukuk programmes Read More »

MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to UDA Holdings Berhad’s Islamic Commercial Papers (ICP) programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion with a combined aggregate limit of up to RM1.0 billion. The rating carries a stable outlook. The rating agency has reviewed the …

MARC Ratings assigns final ratings of MARC-1_IS/AA-_IS to UDA’s ICP/IMTN Programmes of up to RM1.0 billion Read More »

MARC Ratings has revised the outlook on UiTM Solar Power Sdn Bhd’s outstanding RM192.3 million Green SRI Sukuk to stable from negative. The rating on the sukuk is maintained at A+IS. The outlook revision considers the improvement in UiTM Solar’s liquidity and cash flow coverage metrics following the full receipt of insurance proceeds of RM20.0 …

MARC Ratings revises UiTM Solar’s rating outlook to stable Read More »

MARC Ratings has assigned a final rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) RM300.0 million Medium-Term Notes (MTN) 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 …

MARC Ratings assigns final rating of A to Singer’s RM300.0 million MTN Programme Read More »

MARC Ratings has withdrawn its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad. This follows the completion of the legal process to transfer Danajamin’s businesses and undertakings to Bank Pembangunan Malaysia Berhad effective March 1, 2023. Accordingly, bonds/sukuk rated by MARC Ratings that were guaranteed by Danajamin …

MARC Ratings withdraws ratings on Danajamin Read More »