The MARC Group of Companies comprises MARC Ratings, MARC Solutions, MARC Data and MARC Learning.
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MARC Ratings has withdrawn its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad. This follows the completion of the legal process to transfer Danajamin’s businesses and undertakings to Bank Pembangunan Malaysia Berhad effective March 1, 2023. Accordingly, bonds/sukuk rated by MARC Ratings that were guaranteed by Danajamin …
MARC Ratings has affirmed BEWG (M) Sdn Bhd’s (BEWG) RM400 million Sukuk Wakalah rating of AAIS with a stable outlook. BEWG, a 100%-subsidiary of Hong Kong-based Beijing Enterprises Water Group Limited (BEWGL), was set up to undertake water and sewerage projects in Malaysia. In November 2015, it won the Terengganu state government’s contract to refurbish …
MARC Ratings affirms AAIS rating on BEWG’s RM400.0 million Sukuk Wakalah Read More »
MARC Ratings has upgraded port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM2.15 billion Islamic Medium-Term Notes (Sukuk Murabahah Programme) rating to AAIS from AA-IS. The rating outlook is stable. The outstanding under the rated programme stood at RM2.1 billion as at March 13, 2023. The rating upgrade is premised on PTP’s strengthened credit profile, …
MARC Ratings upgrades PTP’s Sukuk Murabahah rating to AAIS Read More »
MARC Ratings has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s outstanding RM200.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. The outlook on the rating is stable. The performance of Sinar Kamiri’s 49MWac solar power plant remained within expectations in 2022. Electricity generation was marginally lower than P90 projections by 1.7%, mainly …
MARC Ratings affirms AA-IS rating on Sinar Kamiri’s Sukuk Read More »
MARC Ratings has affirmed its ratings of AAA, AA and B- on special purpose vehicle Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings outlook is stable. Special Coral owns about …
MARC Ratings affirms ratings on Special Coral’s Senior and Subordinated Class MTN Read More »
MARC Ratings has assigned final ratings of MARC-1/MARC-1IS to Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion. The ratings outlook is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any …
MARC Ratings has withdrawn its AAA rating on Inverfin Sdn Bhd’s RM160 million Medium-Term Notes (MTN) programme. The rating withdrawal follows the full redemption of the RM160 million outstanding under the programme and subsequent termination of the programme as confirmed by the facility agent on March 6, 2023. With the withdrawal, MARC Ratings will no …
MARC Ratings has revised the outlook on Top Glove Corporation Bhd’s corporate credit rating to negative from stable on concerns that the impact from the continued tough global market conditions for glove manufacturers will weigh on the group’s performance. Concurrently, the rating outlook on the RM3.0 billion Perpetual Sukuk Wakalah Programme of Top Glove’s wholly-owned …
MARC Ratings revises Top Glove’s rating outlook to negative Read More »
MARC Ratings has affirmed its AAAIS and AAA ratings on Cagamas MBS Berhad’s asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) and fixed rate serial bonds issuances (CMBS 2005-2; CMBS 2007-2). The outlook on all ratings is stable. Cagamas MBS was established to undertake the securitisation of conventional and Islamic home financing originated by the Malaysian government. …
MARC Ratings has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 3 of RM113 million Class A, RM21 million Class B and RM11 million Class C Medium-Term Notes (MTN). The outlook on all ratings is stable. The affirmed ratings reflect the loan-to-value (LTV) ratios of the classes that …
MARC Ratings affirms ratings on Kinabalu Capital’s Issue 3 Read More »