Rating Announcements

MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.72 billion Sukuk Murabahah with a stable outlook. The rating affirmation is underpinned by JEP’s predictable cash flows from its 2×1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/stable). The rating […]

MARC Ratings has assigned a preliminary rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) proposed RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). CBC is a 70:30 joint venture between CHC and

MARC Ratings has withdrawn its rating of AAAIS on MISC Berhad’s RM2.5 billion Islamic Medium-Term Notes (IMTN) programme. The withdrawal follows the expiry of the programme on September 27, 2022, as confirmed by the facility agent.

MARC Ratings has affirmed its AAIS /AA ratings on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/ Multi-Currency Medium-Term Notes Programmes (MCMTN) with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and irrevocable guarantee

MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM580.0 million Sukuk Ijarah and concurrently revised the outlook to stable from negative. The outlook revision reflects the improvement in KEV’s cash flow protection following better operational metrics recorded by its 2,200MW power plant. Over the last two years, the

MARC Ratings has affirmed its ratings of MARC-1IS /AA-IS on UEM Sunrise Berhad’s two Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) programmes (ICP/IMTN-1 and ICP/IMTN-2) with a total combined nominal value of RM6.0 billion. The rating agency has also affirmed its AA-IS rating on UEM Sunrise’s RM2.0 billion IMTN programme (IMTN-1). The long-term

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 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 has affirmed its rating of AA-IS on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar Dua) outstanding Green Sustainable and Responsible Investment (SRI) sukuk of RM97.0 million with a stable outlook. UiTM Solar Dua owns a 25MWac solar power plant in Pasir Gudang, Johor. The plant has been operational since December 2, 2020

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