Rating Announcements

MARC Ratings has withdrawn its ratings of AAAIS/AA+IS on Danajamin Nasional Berhad’s (Danajamin) RM2.0 billion Senior and Subordinated Sukuk Murabahah programme. The ratings withdrawal follows the full redemption of the outstanding amount of RM500.0 million under the programme and the subsequent cancellation of the programme. This was confirmed by the facility agent on October 11, 2022. […]

MARC Ratings has assigned a final rating of AAAIS to Amanat Lebuhraya Rakyat Berhad’s (ALR) sukuk programme of up to RM5.5 billion. The rating outlook is stable. 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

MARC Ratings has extended its MARCWatch Negative placement on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM192.3 million, where it has been since January 28, 2022. The rating action reflects MARC Ratings’ concern on the limited time since the 50MWac plant fully resumed its operations on

MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA and its Perpetual Subordinated Sukuk Programme’s rating of up to RM3.0 billion at AAIS. Both ratings carry a stable outlook. The affirmed corporate credit rating reflects SD Plantation’s strong cash flow generating ability from its geographically sizeable and integrated oil

MARC Ratings has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Danajamin Nasional Berhad-guaranteed Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on MARC Ratings’ assessment of credit strength of Danajamin (AAA/Stable) which has provided an unconditional and irrevocable financial guarantee insurance on the

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.