Rating Announcements

MARC Ratings affirms AAAIS rating on TNB Western Energy’s sukuk

MARC Ratings has affirmed its rating of AAAIS on TNB Western Energy Berhad’s (TNB Western) outstanding sukuk of RM3.7 billion with a stable outlook. The rating affirmation reflects the equalisation with the corporate credit rating of Tenaga Nasional Berhad (TNB) of AAA/Stable. The equalisation is premised on the strength of the unconditional and irrevocable rolling …

MARC Ratings affirms AAAIS rating on TNB Western Energy’s sukuk Read More »

MARC Ratings revises Segi Astana’s MTN rating outlook to stable

MARC Ratings has affirmed its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) facility at A+ and concurrently revised the rating outlook to stable from negative. The current outstanding under the rated facility stands at RM310.0 million. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur …

MARC Ratings revises Segi Astana’s MTN rating outlook to stable Read More »

MARC Ratings affirms A+IS rating on Sunsuria’s RM500.0 million Sukuk Wakalah programme

MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable. The rating affirmation incorporates Sunsuria’s development approach through joint ventures, its low net leverage and strong liquidity position. The rating also factors in the prevailing challenging domestic property market outlook that has weighed on …

MARC Ratings affirms A+IS rating on Sunsuria’s RM500.0 million Sukuk Wakalah programme Read More »

MARC Ratings withdraws ratings on Sunway Treasury Sukuk’s RM2.0 billion programme on expiry

MARC Ratings has withdrawn its ratings of MARC-1IS(cg) /AA-IS(cg) on Sunway Treasury Sukuk Sdn Bhd’s Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programme with a limit of RM2.0 billion. The withdrawal follows the expiry of the programme on June 6, 2022 as confirmed by the facility agent. The rating agency’s analytical coverage is now …

MARC Ratings withdraws ratings on Sunway Treasury Sukuk’s RM2.0 billion programme on expiry Read More »

MARC Ratings assigns final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s proposed RM1.0 billion ICP/IMTN

MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s (JPB) Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes with a combined aggregate limit of RM1.0 billion. The long-term rating carries a stable outlook. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and …

MARC Ratings assigns final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s proposed RM1.0 billion ICP/IMTN Read More »

MARC Ratings affirms DRB-HICOM’s ratings with stable outlook

MARC Ratings has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the latter’s subordination to the senior sukuk. All ratings carry a stable outlook. The outstanding under the …

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MARC Ratings affirms Bank Pembangunan’s ratings with a stable outlook

MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). Concurrently, the rating agency has affirmed its rating of AAAIS on the bank’s Islamic Medium Term-Notes Programme of up to RM5.0 billion. The ratings outlook is stable. BPMB’s status as a wholly government-owned institution mandated to provide financing …

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MARC Ratings assigns AA-IS(cg) rating to Eco World Capital’s proposed RM1.2 billion Sukuk Wakalah programme

MARC Ratings has assigned a preliminary rating of AA-IS(cg) with a stable outlook to Eco World Capital Berhad’s proposed Islamic Medium-Term Notes (Sukuk Wakalah) programme of RM1.2 billion. Eco World Capital is the funding vehicle for parent Eco World Development Group Berhad (EcoWorld) to undertake the issuance of the Sukuk Wakalah. EcoWorld has extended an …

MARC Ratings assigns AA-IS(cg) rating to Eco World Capital’s proposed RM1.2 billion Sukuk Wakalah programme Read More »