Ratings

MARC Ratings has affirmed its ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds (Junior Bonds) at AA-IS and A-. The three-notch rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordination to the Senior Sukuk in regard to …

MARC Ratings affirms Kesturi’s ratings and revises outlook to stable Read More »

MARC Ratings has affirmed its ratings on Cagamas Berhad’s bonds and sukuk issuances as follows: MARC-1/MARC-1IS on Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billion AAA/AAAIS on Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 billion The ratings outlook is stable. The key rating drivers …

MARC Ratings affirms Cagamas’ ratings with stable outlook Read More »

MARC Ratings has affirmed its financial institution (FI) rating of AAA on Small Medium Enterprise Development Bank Malaysia Berhad (SME Bank). Concurrently, the rating agency has affirmed its ratings of AAAIS/MARC-1IS on the bank’s Islamic Medium Term-Notes (IMTN) Programme of up to RM3.0 billion and Islamic Commercial Papers (ICP) Programme of up to RM1.0 billion …

MARC Ratings affirms SME Bank’s financial institution rating with stable outlook Read More »

MARC Ratings has withdrawn its rating of AAAIS/Stable on Cagamas MBS Berhad’s Tranche 6 under the RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i). The rating withdrawal follows the full redemption of the outstanding RM320.0 million under Tranche 6 as confirmed by the facility agent. The rating agency’s analytical coverage on CMBS 2007-1-i is now …

MARC Ratings withdraws rating on Cagamas MBS’s Tranche 6 under CMBS 2007-1-i on full redemption Read More »

MARC Ratings has affirmed its rating on toll concessionaire Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) RM3.64 billion Sukuk Wakalah at AA-IS with a stable outlook. The rating incorporates the adequately structured sukuk repayment profile that accommodates the traffic ramp-up on Setiawangsa-Pantai Expressway (SPE). The back-ended financing structure — with the first principal repayment …

MARC Ratings affirms AA-_IS rating on DUKE 3’s RM3.64 billion sukuk Read More »

MARC Ratings has assigned a preliminary rating of AAAIS to Amanat Lebuhraya Rakyat Berhad’s (ALR) proposed sukuk programme of up to RM5.5 billion. The rating outlook is stable. The assigned rating reflects the strength and the proven revenue-generating capacity of ALR’s portfolio of matured highways in the Klang Valley, the healthy finance service capacity under …

MARC Ratings assigns AAA_IS preliminary rating to Amanat Lebuhraya Rakyat Berhad Read More »

MARC Ratings has affirmed its AAIS rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding sukuk of RM585.0 million with a stable outlook. The rating affirmation reflects KPSB’s steady cash flow generation attributed to the consistent performance of its plant that has continued to exceed the minimum requirements under its Power Purchase Agreement (PPA). Demand risk …

MARC Ratings affirms AAIS rating on Kimanis Power’s sukuk Read More »

MARC Ratings has affirmed its AA- rating on 7-Eleven Malaysia Holdings Berhad’s (7-Eleven Holdings) RM600.0 million Medium-Term Notes (MTN) Programme with a stable outlook. The outstanding under the programme stood at RM500.0 million as of May 11, 2022. The group’s established market position and strong operating track record in the domestic convenience store segment (7-Eleven …

MARC Ratings affirms AA- rating on 7-Eleven Holdings’ MTN Programme Read More »

MARC Ratings has assigned a final rating of AAAIS to TNB Power Generation Sdn Bhd’s (TPGSB) sukuk programme of up to RM10.0 billion. The rating carries at 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 material way …

MARC ratings assigns final rating of AAA_IS to TNB Power Generation’s sukuk programme Read More »

MARC Ratings has affirmed its ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM40.0 million outstanding Islamic Medium-Term Notes (IMTN) at AAIS and RM350.0 million outstanding guaranteed IMTN at AAAIS(fg). The ratings outlook is stable. The AAIS rating incorporates the favourable terms under the power purchase agreement (PPA) which allocates demand risk and fuel price …

MARC Ratings affirms Ranhill Powertron II’s ratings with stable outlook Read More »