Ratings

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 »

MARC Ratings affirms AA-IS and A- ratings on Kesturi’s Senior Sukuk and Junior Bonds

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. The rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordinated status in line with the rating agency’s …

MARC Ratings affirms AA-IS and A- ratings on Kesturi’s Senior Sukuk and Junior Bonds Read More »

MARC Ratings revises Leader Energy’s rating outlook to positive

MARC Ratings has affirmed its AA-IS rating on Leader Energy Sdn Bhd’s outstanding RM215.0 million ASEAN Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. Concurrently, the rating outlook has been revised to positive from stable. Leader Energy is the investment holding company of two solar power project companies, Leader Solar Energy Sdn Bhd (LSE I) …

MARC Ratings revises Leader Energy’s rating outlook to positive Read More »

MARC Ratings withdraws Top Glove unit’s Perpetual Sukuk rating

MARC Ratings has withdrawn its AIS(cg)  rating on TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Programme. TG Excellence is a special funding vehicle of Top Glove Corporation Berhad. The rating withdrawal follows the full redemption of the outstanding RM1.18 billion under the programme on February 27, 2025, and the cancellation of the same as confirmed …

MARC Ratings withdraws Top Glove unit’s Perpetual Sukuk rating Read More »