Ratings

MARC Ratings removes ANIH’s rating from MARCWatch Negative

MARC Ratings has removed ANIH Berhad’s rating from MARCWatch Negative placement where it has been since May 25, 2023. The placement was due to the uncertainties stemming from the new supplemental concession agreement (SCA) between ANIH and the government signed on November 17, 2022, including the potential weakening of its financial profile following the abolishment …

MARC Ratings removes ANIH’s rating from MARCWatch Negative Read More »

MARC Ratings removes UMW’s ratings from MARCWatch Developing and maintains ratings at AA+IS and AA-IS

MARC Ratings has removed UMW Holdings Berhad’s (UMW) sukuk programme ratings from MARCWatch Developing, where they have been placed since August 25, 2023. The rating action then was taken to assess the potential impact from the significant change in UMW’s shareholding structure following the sale of Permodalan Nasional Berhad’s (PNB) 61.18% equity stake to Sime …

MARC Ratings removes UMW’s ratings from MARCWatch Developing and maintains ratings at AA+IS and AA-IS Read More »

MARC Ratings assigns final rating of A-IS to Yinson’s Perpetual Sukuk Programme

MARC Ratings has assigned a final rating of A-IS to Yinson Holdings Berhad’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme. The rating outlook is stable. 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 …

MARC Ratings assigns final rating of A-IS to Yinson’s Perpetual Sukuk Programme Read More »

MARC Ratings downgrades YNH’s IMTN programme rating to BBB+IS

MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBB+IS from AIS and concurrently placed the rating on MARCWatch Negative. The downgrade reflects the heightened concerns on YNH’s weak liquidity position vis-à-vis its financial obligations, compounded by further delays in sale of assets that would have …

MARC Ratings downgrades YNH’s IMTN programme rating to BBB+IS Read More »

MARC Ratings assigns final rating of AA-IS to LBS Bina’s RM750.0 million sukuk programme

MARC Ratings has assigned a final rating of AA-IS to LBS Bina Group Berhad’s RM750 million Islamic Medium-Term Notes Programme. The rating outlook is stable. 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 …

MARC Ratings assigns final rating of AA-IS to LBS Bina’s RM750.0 million sukuk programme Read More »

MARC Ratings revises UEM Edgenta’s rating outlook to positive

MARC Ratings has affirmed its ratings of MARC-1IS /AA-IS on UEM Edgenta Berhad’s Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) under its Sukuk Murabahah Programme of up to RM1.0 billion. Concurrently, the rating outlook has been revised to positive from stable. The outstanding sukuk currently stands at RM250.0 million. The rating affirmation incorporates …

MARC Ratings revises UEM Edgenta’s rating outlook to positive Read More »

MARC Ratings affirms AAA rating on Credit Guarantee Corporation

MARC Ratings has affirmed its financial institution rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating considers the government’s 78.6% ownership of CGC through Bank Negara Malaysia as well as CGC’s key public policy role focused on facilitating access to financing for micro, small and medium-sized enterprises …

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MARC Ratings affirms AA+IS rating on Sime Darby Property’s Sukuk Musharakah Programme

MARC Ratings has affirmed its rating on Sime Darby Property Berhad’s (SD Property) RM4.5 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) at AA+IS with a stable outlook. The outstanding under the rated programme stood at RM1.4 billion as of November 30, 2023. SD Property’s strong sales track record in well-established townships, and strong balance …

MARC Ratings affirms AA+IS rating on Sime Darby Property’s Sukuk Musharakah Programme Read More »

MARC Ratings affirms ‘A’ rating on Singer’s RM300.0 million MTN programme

MARC Ratings has affirmed its rating of A/Stable on Singer (Malaysia) Sdn Bhd’s RM300.0 million Medium-Term Notes (MTN) Programme. The outstanding amount as at end-September 2023 stood at RM101.0 million. The rating reflects Singer’s long and profitable track record in selling and financing consumer durables and motorcycles, supported by strong operating profit margins. Moderating factors …

MARC Ratings affirms ‘A’ rating on Singer’s RM300.0 million MTN programme Read More »