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MARC Ratings has revised its outlook on cocoa grinder Guan Chong Berhad’s (GCB) sukuk programme rating to stable from negative. The rating remains at AA-IS. The outlook revision is premised on the prospect of a more accommodative cocoa bean price environment that would ease GCB’s working capital requirements, hence, leverage over the near-to-medium term. Cocoa …
MARC Ratings has assigned a preliminary rating of A+IS to Yinson Holdings Berhad’s (YHB) proposed RM2.0 billion Islamic Medium-Term Notes (IMTN) (Sukuk Wakalah II) as well as affirmed its ratings of A+IS on the RM1.0 billion IMTN Programme (Sukuk Wakalah I) and A-IS on the RM1.0 billion Subordinated Perpetual Islamic Notes Programme (perpetual sukuk). The …
MARC Ratings assigns preliminary A+IS rating to Yinson’s proposed sukuk programme Read More »
MARC Ratings has affirmed Bank Pertanian Malaysia Berhad’s (Agrobank) financial institution rating at AAA and the bank’s Islamic Medium-Term Notes Programme rating at AAAIS. The ratings outlook is stable. The affirmation reflects MARC Ratings’ view of a very high likelihood of government support for the development financial institution, given the government’s full ownership and Agrobank’s …
MARC Ratings affirms Agrobank’s ratings with stable outlook Read More »
MARC Ratings has affirmed its AAAIS(s) rating on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM25.2 billion Islamic Medium-Term Notes Programme (sukuk programme) with a stable outlook. The rating incorporates a two-notch uplift from PLUS’ standalone rating, reflecting the government’s irrevocable and unconditional Letter of Undertaking (LoU) to cover any shortfall in the LoU finance service cover …
MARC Ratings has assigned a final rating of AAAIS to PNB Merdeka Ventures Sdn. Berhad’s (PNBMV) Merdeka Sukuk Wakalah Programme of up to RM6.0 billion with a stable outlook. 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 …
MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. TNB’s strong credit profile is underpinned by its monopoly over electricity transmission in Peninsular Malaysia and Sabah, as well as its status as the largest domestic electricity producer, distributor and retailer. A supportive Incentive-Based Regulation framework enables TNB …
MARC Ratings affirms Tenaga Nasional’s AAA rating Read More »
MARC Ratings has affirmed its financial institution ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook. KAF IB’s consistent earnings record, strong capitalisation and liquidity, and conservative, low-risk investment strategy remain key rating drivers, moderated by its sensitivity to sudden interest rate changes. KAF IB primarily earns from capital gains …
MARC Ratings affirms KAF Investment Bank’s ratings with stable outlook Read More »
MARC Ratings has assigned a final rating of MARC-1IS to Sunsuria Berhad’s Islamic Commercial Papers (ICP) Programme of up to RM500.0 million. 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 draft documentation on which the …
MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM7.97 billion Sukuk Murabahah with a stable outlook. The affirmed rating is underpinned by JEP’s stable cash flow from its 2×1,000MW ultra-supercritical coal plant, backed by a 25-year power purchase agreement (PPA) with indirect 70% shareholder Tenaga Nasional Berhad (TNB, …
MARC Ratings affirms Jimah East Power’s AA-IS rating Read More »
MARC Ratings has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) RM10.0 billion nominal value Islamic Commercial Papers/ Islamic Medium-Term Notes (ICP/IMTN) Programmes. The long-term rating outlook is stable. The affirmation reflects PDB’s well-established track record, leading position in domestic petroleum retailing, robust liquidity, low leverage, and strategic role as the Petroliam Nasional Berhad …
MARC Ratings affirms PETRONAS Dagangan’s MARC-1IS/AAAIS ratings Read More »