Rating

Posted Date: June 15, 2021 MARC has assigned a final rating of AAIS with a stable outlook to S P Setia’s RM3.0 billion Islamic Medium-Term Notes Programme. 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 from the […]

Posted Date: June 8, 2021 MARC has affirmed its A+IS(s) rating on Projek Lintasan Sungai Besi – Ulu Klang Sdn Bhd’s (PLSUKE) Sukuk Wakalah Programme of up to RM2.0 billion, with a stable outlook. The rating on the Sukuk Wakalah reflects the credit strength of Projek Lintasan Kota Holdings (PROLINTAS) as the provider of an

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%

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

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

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

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

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

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

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