Rating

Posted Date: July 19, 2021 MARC has affirmed its AAAIS rating on MISC Berhad’s RM2.5 billion Islamic Medium-Term Notes programme with a stable outlook. The affirmed rating incorporates MISC’s position as a key global player in the energy-related shipping business, its stable revenue generation from long-term liquefied natural gas (LNG) and offshore contracts, as well […]

Posted Date: July 16, 2021 MARC has assigned final ratings of AAAIS/MARC-1IS to Small Medium Enterprise Development Bank Malaysia Berhad’s (SME Bank) Islamic Medium-Term Notes (IMTNs) Programme of up to RM3.0 billion (which include Sustainability IMTNs) and Islamic Commercial Papers (ICPs) Programme of up to RM1.0 billion with a combined limit in nominal value of

Posted Date: July 15, 2021 MARC has assigned a rating of AIS to Tropicana Corporation Berhad’s (Tropicana) RM2.0 billion existing Perpetual Sukuk programme with a stable outlook. The Perpetual Sukuk is rated one notch lower than Tropicana’s corporate credit rating of A+/stable to reflect its features and is in line with MARC’s methodology on subordinated

Posted Date: July 15, 2021 MARC has affirmed its ratings on Cagamas Berhad’s bonds and sukuk issuances as follows: Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billion                 at MARC-1/MARC-1IS Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 billion at

Posted date: July 15, 2021 MARC has affirmed its rating of AA-IS on Grand Sepadu (NK) Sdn Bhd’s (Grand Sepadu) RM210 million Sukuk Murabahah Issuance, with a stable outlook. The affirmation reflects Grand Sepadu’s adequate cash flow coverage and moderately leveraged capital structure. Moderating the rating are uncertainties on the implementation of the scheduled toll

Posted Date: July 12, 2021 MARC has affirmed its long- and short-term financial institution (FI) ratings of AA-/MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook. KAF IB’s low-risk business model, strong liquidity and healthy capitalisation levels remain key rating drivers. The susceptibility of its earnings performance to the domestic capital market conditions

Posted Date: June 23, 2021 MARC has assigned preliminary ratings of AAAIS /MARC-1IS on Small Medium Enterprise Development Bank Malaysia Berhad’s (SME Bank) proposed Islamic Medium-Term Notes (IMTNs) Programme of up to RM3.0 billion (which shall include Sustainability IMTNs) and Islamic Commercial Papers (ICPs) Programme of up to RM1.0 billion, with a combined limit in

Posted Date: June 23, 2021 MARC has assigned a corporate credit rating of  A+ with a stable outlook to Yinson Holdings Berhad (Yinson). The assigned rating is primarily driven by the group’s strong business profile in the floating, production, storage and offloading vessels (FPSO) segment from which it has been able to secure recurrent sizeable

Posted Date: June 22, 2021 MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power has developed a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang, which achieved commercial operation date (COD) on January 1, 2021 for Block

Posted Date: June 15, 2021 MARC has assigned a final rating of AA- to 7-Eleven Malaysia Holdings Bhd’s (7-Eleven Holdings) RM600.0 million Medium-Term Notes (MTN) 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