Ratings

MARC Ratings has assigned a preliminary rating of AA+IS to Weststar Aviation Sdn Bhd’s (WAVI) proposed Islamic Medium-Term Notes Programme of up to RM6.0 billion. The rating outlook is stable. The rating reflects strong and predictable cash flows from the Government of Malaysia under an 18-year concession administered by Majlis Keselamatan Negara (MKN), which includes […]

MARC Ratings has upgraded its rating on port operator Johor Port Berhad’s (JPB) Islamic Medium-Term Notes (IMTN) Programme to AAIS and revised the outlook to stable from positive. The rating on the Islamic Commercial Papers Programme has been affirmed at MARC-1IS. The programmes have a combined aggregate limit of RM1.0 billion with the current outstanding

MARC Ratings has affirmed its ratings on WCT Holdings Berhad’s (WCT) debt/sukuk programmes and the rating outlook on all programmes has been maintained at positive. The group’s rated issuances are as follows: RM5.0 billion Islamic Medium-Term Notes (IMTN)/ Perpetual Sukuk Programmes at A+IS /A-IS RM1.0 billion Medium-Term Notes Programme at A+ RM1.5 billion Sukuk Murabahah

MARC Ratings has affirmed the AAIS /AA ratings on funding vehicle OSK Rated Bond Sdn Bhd’s (OSKRB) Sukuk Murabahah/ Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM3.5 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes issued under the programmes. The programmes carry an unconditional and

MARC Ratings has assigned a preliminary AA-IS rating to Sungai Udang WTE Sdn Bhd’s (SUWTE) proposed RM700.0 million ASEAN Green SRI Sukuk Wakalah Programme, with a stable outlook. SUWTE is a special purpose vehicle established to develop and operate a 22.1MW waste-to-energy (WTE) facility in Sungai Udang, Melaka, under a 34-year concession agreement (CA) with

MARC Ratings has assigned a preliminary AA+IS rating, with a stable outlook, to TI TNB Genco Solar Kenyir 1 Sdn Bhd’s (TTSK1) proposed ASEAN Sustainability Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM2.0 billion. TTSK1 is a special-purpose vehicle established to develop, own and operate a 595MWac floating solar facility with a

MARC Ratings has assigned a rating of AA-IS to TDM Berhad’s Islamic Medium-Term Notes (Sukuk Wakalah) Programme of RM1.5 billion in nominal value based on the Shariah principle of Wakalah Bi Al-Istithmar, with a stable outlook. The assigned rating incorporates a one-notch rating uplift based on MARC Ratings’ assessment of implicit support from the Terengganu

MARC Ratings has downgraded its rating on Zetrix AI Berhad’s Islamic Medium-Term Notes (IMTN) Programme of up to RM2.0 billion to CIS from BB+IS and maintains the rating on MARCWatch Negative. The rating falls within the lowest category above default, indicating a high likelihood of non-repayment, with Zetrix AI having limited capacity to address the

MARC Ratings has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) RM10.0 billion Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes. The outlook on the long-term rating is stable. There are currently no outstanding issuances under the programmes. The rating affirmation reflects PDB’s established position as a leading retailer and marketer of petroleum products

MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. TNB’s strong credit profile reflects its monopoly over electricity transmission in Peninsular Malaysia and Sabah, its leading position in power generation and distribution, and the supportive Incentive-Based Regulation framework, which facilitates fuel cost recovery and provides regulated returns