Rating

Posted Date: June 3, 2021 MARC has affirmed its rating of AAA on Inverfin Sdn Bhd’s Tranche A notes under the maximum limit of RM160 million of its Medium-Term Notes (MTN) programme. The outlook on the rating has been revised to negative from stable. The affirmed rating reflects the acceptable loan-to-value (LTV) ratio of 41.9% …

MARC affirms AAA rating on Inverfin’s outstanding notes; revises outlook to Negative Read More »

Posted Date: May 31, 2021 MARC has placed its ratings of MARC-1IS /A+IS on Serba Dinamik Holdings Berhad’s (Serba Dinamik) RM500.0 million multi-currency Islamic Commercial Papers Programme and RM1.5 billion Islamic Medium-Term Notes Programme with a combined limit of RM1.5 billion on MARCWatch Negative. The ratings were assigned on May 11, 2021. The MARCWatch placement …

MARC places Serba Dinamik’s ratings on MARCWatch Negative Read More »

Posted Date: May 27, 2021 MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 2 Medium-Term Notes (MTN) of RM130 million Class A, RM25 million Class B and RM15 million Class C. Concurrently, the rating agency has also affirmed its MARC-1 rating on Kinabalu Capital’s Issue 2 …

MARC affirms ratings on Kinabalu Capital’s Issue 2 MTN/CP Read More »

Posted Date: May 25, 2021 MARC has assigned ratings of AAAIS (CG) /MARC-1IS (CG) to funding vehicle F&N Capital Sdn Bhd’s (F&N Capital) Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes with a combined limit of up to RM3.0 billion. The ratings outlook is stable. F&N Capital is a wholly-owned subsidiary of Fraser …

MARC assigns AAA_IS(CG)/MARC-1_IS(CG) to F&N Capital’s Islamic Medium-Term Notes and Islamic Commercial Papers programmes Read More »

Posted Date: May 24, 2021 MARC has lowered its ratings on Alpha Circle Sdn Bhd’s outstanding RM140 million Senior Sukuk Musharakah to BBBIS from AIS and RM55 million Junior Sukuk Musharakah to BBIS from BBBIS. The downgrades reflect increased concerns on Alpha Circle’s ability to meet its remaining sukuk repayments as its cash flow has …

MARC downgrades Alpha Circle’s ratings; maintains ratings on MARCWatch Negative Read More »

Posted Date: May 24, 2021 MARC has affirmed its ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM90.0 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 reflects favourable terms under the Power Purchase Agreement (PPA) which allocate demand risk …

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

Posted Date: May 21, 2021 MARC has assigned a final rating of AA-IS to The Holstein Milk Company Sdn Bhd’s (THMC) RM1.0 billion Sukuk Wakalah 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 …

MARC assigns final rating of AA-_IS to The Holstein Milk Company’s RM1.0 billion Sukuk Wakalah Programme Read More »

Posted Date: May 20, 2021 MARC has upgraded the rating on Kimanis Power Sdn Bhd’s (KPSB) outstanding RM650.0 million Sukuk Programmes (sukuk) to AAIS from AA-IS. The rating outlook is stable. The rating upgrade is premised on the consistently strong operational performance of KPSB’s 285-megawatt combined-cycle gas-fired power plant at Kimanis Bay in Sabah, that …

MARC upgrades rating on Kimanis Power’s sukuk programmes to AAIS Read More »

Posted Date: May 18, 2021 MARC has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s (Sinar Kamiri) RM245.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. The rating outlook is stable. Sinar Kamiri is a special purpose project company that owns and operates a 49.0MWac solar power plant in Sungai Siput, Perak. The …

MARC affirms Sinar Kamiri’s rating with stable outlook Read More »

Posted Date: May 11, 2021 MARC has assigned ratings of MARC-1IS/A+IS to Serba Dinamik Holdings Berhad’s (Serba Dinamik) RM500.0 million multi-currency Islamic Commerical Papers Programme and RM1.5 billion Islamic Medium-Term Notes Programme with a combined limit of RM1.5 billion. The ratings outlook is stable. MARC had previously rated the same programmes; following an early redemption …

MARC assigns ratings of MARC-1_IS/A+_IS to Serba Dinamik’s RM1.5 billion multi-currency ICP/IMTN Programmes Read More »