Ratings

MARC Ratings affirms OSK unit’s Sukuk/MCMTN ratings with stable outlook

MARC Ratings has affirmed its AAIS /AA ratings on funding vehicle OSK Rated Bond Sdn Bhd’s Sukuk Murabahah/ Multi-Currency Medium-Term Notes Programmes (MCMTN) with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The programmes carry an unconditional and irrevocable guarantee …

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MARC Ratings revises Kapar Energy Ventures’ rating outlook to stable

MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM580.0 million Sukuk Ijarah and concurrently revised the outlook to stable from negative. The outlook revision reflects the improvement in KEV’s cash flow protection following better operational metrics recorded by its 2,200MW power plant. Over the last two years, the …

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MARC Ratings affirms AAAIS rating on TNB Western Energy’s sukuk

MARC Ratings has affirmed its rating of AAAIS on TNB Western Energy Berhad’s (TNB Western) outstanding sukuk of RM3.7 billion with a stable outlook. The rating affirmation reflects the equalisation with the corporate credit rating of Tenaga Nasional Berhad (TNB) of AAA/Stable. The equalisation is premised on the strength of the unconditional and irrevocable rolling …

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MARC Ratings revises Segi Astana’s MTN rating outlook to stable

MARC Ratings has affirmed its rating on Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) facility at A+ and concurrently revised the rating outlook to stable from negative. The current outstanding under the rated facility stands at RM310.0 million. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur …

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MARC Ratings affirms A+IS rating on Sunsuria’s RM500.0 million Sukuk Wakalah programme

MARC Ratings has affirmed its rating of A+IS on Sunsuria Berhad’s RM500.0 million Sukuk Wakalah Programme. The rating outlook is stable. The rating affirmation incorporates Sunsuria’s development approach through joint ventures, its low net leverage and strong liquidity position. The rating also factors in the prevailing challenging domestic property market outlook that has weighed on …

MARC Ratings affirms A+IS rating on Sunsuria’s RM500.0 million Sukuk Wakalah programme Read More »

MARC Ratings withdraws ratings on Sunway Treasury Sukuk’s RM2.0 billion programme on expiry

MARC Ratings has withdrawn its ratings of MARC-1IS(cg) /AA-IS(cg) on Sunway Treasury Sukuk Sdn Bhd’s Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programme with a limit of RM2.0 billion. The withdrawal follows the expiry of the programme on June 6, 2022 as confirmed by the facility agent. The rating agency’s analytical coverage is now …

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MARC Ratings assigns final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s proposed RM1.0 billion ICP/IMTN

MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s (JPB) Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes with a combined aggregate limit of RM1.0 billion. The long-term rating carries a stable outlook. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and …

MARC Ratings assigns final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s proposed RM1.0 billion ICP/IMTN Read More »