Ratings

MARC Ratings affirms KAF Investment Bank’s financial institution ratings with stable outlook

MARC Ratings has affirmed its financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook. The ratings incorporate KAF IB’s strong capitalisation and liquidity levels, underpinned by a conservative investment strategy. The long-term FI rating is moderated by the susceptibility of KAF IB’s performance to domestic capital market …

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MARC Ratings affirms rating on Bina Darulaman’s ICP Programme

MARC Ratings has affirmed its short-term rating of MARC-2IS on Bina Darulaman Berhad’s (BDB) RM100.0 million Islamic Commercial Papers (ICP) Programme. The rating incorporates BDB’s strength in undertaking construction and property projects, improving leverage position, and adequate liquidity to meet short-term operational and financial commitments. The rating also considers the group’s status as a Kedah …

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MARC Ratings affirms rating of AA-IS(cg) on Eco World Capital’s RM1.2 billion Sukuk Wakalah Programme

MARC Ratings has affirmed its rating of AA-IS(cg) on Eco World Capital Berhad’s Islamic Medium-Term Notes (Sukuk Wakalah) Programme of RM1.2 billion. The rating outlook is stable. Eco World Capital is the financing vehicle of parent Eco World Development Group Berhad (EcoWorld) which provided an unconditional and irrevocable guarantee on the programme. The rating affirmation …

MARC Ratings affirms rating of AA-IS(cg) on Eco World Capital’s RM1.2 billion Sukuk Wakalah Programme Read More »

MARC Ratings assigns preliminary rating of MARC-1 to CGS-CIMB’s Commercial Papers Programme

MARC Ratings has assigned its preliminary rating of MARC-1 to CGS-CIMB Securities Sdn Bhd’s (CGS-CIMB) proposed Commercial Papers (CP) Programme of up to RM1.0 billion in nominal value. Concurrently, the rating agency has assigned a non-bank financial institution rating of AA to CGS-CIMB with a stable outlook. CGS-CIMB’s growing business profile in the domestic stockbroking …

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MARC Ratings affirms AAIS rating on Northport’s RM1.5 billion Sukuk Musharakah

MARC Ratings has affirmed its AAIS rating on Northport (Malaysia) Bhd’s RM1.5 billion Sukuk Musharakah Programme with a stable outlook. Northport’s well-established operational track record as a key port operator in Port Klang, healthy cash flow generation and strong balance sheet profile remain key rating drivers. The rating is mainly moderated by the susceptibility of …

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Impact on 7-Eleven Holdings from disposal of Caring Pharmacy

MARC Ratings views the credit profile of 7-Eleven Malaysia Holdings Berhad (7-Eleven Holdings) will not be materially impacted from the proposed disposal of its entire 75% stake in Caring Pharmacy Group Berhad to BIG Pharmacy Holdings Sdn Bhd. Accordingly, the rating on 7-Eleven Holdings’ Medium-Term Notes (MTN) Programme remains at AA-/Stable which was affirmed in …

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MARC Ratings affirms ratings on Sime Darby Plantation

MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA and Perpetual Subordinated Sukuk Programme rating of up to RM3.0 billion at AAIS. The two-notch rating differential between SD Plantation’s corporate credit rating and the Perpetual Sukuk programme rating is in line with MARC Ratings’ methodology on notching principles of …

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MARC Ratings assigns final ratings to Bank Muamalat’s RM5.0 billion Sukuk Wakalah programme

MARC Ratings has assigned final ratings to Bank Muamalat Malaysia Berhad’s Sukuk Wakalah Programme of up to RM5.0 billion as follows: Senior Sukuk Wakalah at A+IS Tier-2 Subordinated Sukuk Wakalah at A-IS Additional Tier-1 Sukuk Wakalah at BBBIS The outlook on all ratings is stable. The rating agency has reviewed the final documentation for the …

MARC Ratings assigns final ratings to Bank Muamalat’s RM5.0 billion Sukuk Wakalah programme Read More »

MARC Ratings affirms Agrobank’s financial institution rating with stable outlook

MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pertanian Malaysia Berhad (Agrobank). Concurrently, the rating agency has also affirmed its rating of AAAIS on Agrobank’s Islamic Medium-Term Notes Programme. The ratings outlook is stable. The ratings affirmation is premised on Agrobank’s status as a wholly government-owned development financial institution (DFI) …

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