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MARC Ratings has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the latter’s subordination to the senior sukuk. All ratings carry a stable outlook. The outstanding under the …
MARC Ratings affirms DRB-HICOM’s ratings with stable outlook Read More »
MARC Ratings has affirmed its financial institution (FI) rating of AAA on Bank Pembangunan Malaysia Berhad (BPMB). Concurrently, the rating agency has affirmed its rating of AAAIS on the bank’s Islamic Medium Term-Notes Programme of up to RM5.0 billion. The ratings outlook is stable. BPMB’s status as a wholly government-owned institution mandated to provide financing …
MARC Ratings affirms Bank Pembangunan’s ratings with a stable outlook Read More »
MARC Ratings has assigned a preliminary rating of AA-IS(cg) with a stable outlook to Eco World Capital Berhad’s proposed Islamic Medium-Term Notes (Sukuk Wakalah) programme of RM1.2 billion. Eco World Capital is the funding vehicle for parent Eco World Development Group Berhad (EcoWorld) to undertake the issuance of the Sukuk Wakalah. EcoWorld has extended an …
MARC Ratings has assigned a final rating of AAIS(cg) to funding vehicle VS Capital Management Sdn Bhd’s Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion. The rating carries 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 …
MARC Ratings has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s outstanding Sukuk Wakalah of RM3.6 billion with a stable outlook. The affirmed rating is underpinned by the strength of Southern Power’s 21-year power purchase agreement (PPA) under which demand risk is allocated to offtaker Tenaga Nasional Berhad (AAA/Stable). Capacity payments (CP) under …
MARC Ratings affirms AA-IS rating on Southern Power’s sukuk Read More »
MARC Ratings has assigned a final rating of AA+IS to edotco Malaysia Sdn Bhd’s proposed Islamic Medium-Term Notes Programme (Sukuk Wakalah Programme) of up to RM3.0 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 …
MARC Ratings has withdrawn its rating of AAA/Stable on Cagamas MBS Berhad’s Tranche 6 under the RM2,410.0 million asset-backed Fixed Rate Serial Bonds (CMBS 2007-2). The rating withdrawal follows the full redemption of the outstanding RM250.0 million under Tranche 6 as confirmed by the facility agent. The rating agency’s analytical coverage on CMBS 2007-2 is …
MARC Ratings has assigned a preliminary 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. JB Cocoa is a key manufacturing subsidiary of JB Foods Limited, a Singapore Stock Exchange listed company, which has provided a corporate guarantee to the …
MARC Ratings has affirmed its ratings on UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes Programme (Sukuk Musharakah) at AA+IS and RM2.0 billion Perpetual Sukuk Programme (Perpetual Sukuk) at AA-IS. The ratings outlook is stable. UMW’s sizeable market share in the domestic automotive industry, strong revenue generation and healthy capital structure remain key rating …
MARC Ratings affirms ratings on UMW’s IMTN and Perpetual Sukuk Programmes Read More »
MARC Ratings has affirmed its insurer financial strength (IFS) rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency has affirmed its ratings of AAAIS and AA+IS on the Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under its Sukuk Murabahah programme. Currently, there is …
MARC Ratings affirms Danajamin’s ratings with stable outlook Read More »