Ratings

MARC Ratings has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) Sukuk Wakalah Programme of up to RM800.0 million with a stable outlook. The outstanding under the programme stood at RM300.0 million as of October 17, 2022. The rating affirmation mainly reflects GCB’s strong position in the midstream cocoa supply chain as the …

MARC Ratings affirms AA-_IS rating on Guan Chong’s RM800.0 million sukuk programme Read More »

MARC Ratings has assigned a preliminary rating of AA-IS to MY E.G. Services Berhad’s (MYEG) proposed Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion in nominal value. The rating outlook is stable. The assigned rating reflects MYEG’s established position as a longstanding concessionaire for e-government services, underpinned by its strong IT infrastructure. The …

MARC Ratings assigns preliminary rating of AA-_IS to MYEG’s proposed RM1.0 billion IMTN programme Read More »

MARC Ratings has assigned a final rating of A+IS with a stable outlook to JB Cocoa Sdn Bhd’s proposed Islamic Medium-Term Notes (Sukuk Wakalah) 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 …

MARC Ratings assigns final rating of A+_IS to JB Cocoa’s proposed RM500.0 million Sukuk Wakalah programme Read More »

MARC Ratings has withdrawn its ratings of AAAIS/AA+IS on Danajamin Nasional Berhad’s (Danajamin) RM2.0 billion Senior and Subordinated Sukuk Murabahah programme. The ratings withdrawal follows the full redemption of the outstanding amount of RM500.0 million under the programme and the subsequent cancellation of the programme. This was confirmed by the facility agent on October 11, 2022. …

MARC Ratings withdraws ratings on Danajamin’s RM2.0 billion Sukuk Murabahah programme Read More »

MARC Ratings has assigned a final rating of AAAIS to Amanat Lebuhraya Rakyat Berhad’s (ALR) sukuk programme of up to RM5.5 billion. 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 …

MARC Ratings assigns final rating of AAA_IS to Amanat Lebuhraya Rakyat Read More »

MARC Ratings has extended its MARCWatch Negative placement on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM192.3 million, where it has been since January 28, 2022. The rating action reflects MARC Ratings’ concern on the limited time since the 50MWac plant fully resumed its operations on …

MARC Ratings extends UiTM Solar’s MARCWatch Negative placement Read More »

MARC Ratings has affirmed Sime Darby Plantation Berhad’s (SD Plantation) corporate credit rating at AAA and its Perpetual Subordinated Sukuk Programme’s rating of up to RM3.0 billion at AAIS. Both ratings carry a stable outlook. The affirmed corporate credit rating reflects SD Plantation’s strong cash flow generating ability from its geographically sizeable and integrated oil …

MARC Ratings affirms ratings on Sime Darby Plantation Read More »

MARC Ratings has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Danajamin Nasional Berhad-guaranteed Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on MARC Ratings’ assessment of credit strength of Danajamin (AAA/Stable) which has provided an unconditional and irrevocable financial guarantee insurance on the …

MARC Ratings affirms AAA_IS(fg) rating on Masteel’s RM130.0 million guaranteed Sukuk Ijarah Programme Read More »

MARC Ratings has affirmed its AA-IS rating on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.72 billion Sukuk Murabahah with a stable outlook. The rating affirmation is underpinned by JEP’s predictable cash flows from its 2×1,000-megawatt (MW) ultra-supercritical coal plant under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) (AAA/stable). The rating …

MARC Ratings affirms AA-_IS rating on Jimah East Power’s sukuk Read More »

MARC Ratings has assigned a preliminary rating of AA-(cg) on Chailease Berjaya Credit Sdn Bhd’s (CBC) proposed RM1.0 billion Medium-Term Notes (MTN) Programme. The rating outlook is stable. The programme carries an unconditional and irrevocable guarantee from CBC’s ultimate holding company, Chailease Holding Company Limited (CHC). CBC is a 70:30 joint venture between CHC and …

MARC Ratings assigns preliminary rating of AA-(cg) to Chailease Berjaya’s RM1.0 billion proposed MTN Programme Read More »