Rating

Posted Date: December 11, 2020 MARC has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) Programmes of up to RM2.0 billion. The ratings outlook is stable. There is currently no amount outstanding under the rated programmes, which will expire in March 2021. The ratings incorporate …

MARC affirms MARC-1_IS/AAA_IS ratings on PETRONAS Dagangan’s Islamic CP/MTN Programmes Read More »

Posted Date: December 11, 2020 MARC has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) RM5.4 billion Sukuk Murabahah with a stable outlook. MPower is the operations and maintenance operator of its parent company Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic power plants. The rating approach considers the consolidated credit profile of MPower and its …

MARC affirms AA-_IS rating on Malakoff Power’s RM5.4 billion Sukuk Murabahah Read More »

Posted Date: December 11, 2020 MARC has withdrawn its AAA rating on Cagamas MBS Berhad’s RM385.0 million Tranche 6 issued under the RM2,060.0 million asset-backed fixed rate serial bonds (CMBS 2005-2). The rating withdrawal follows the full redemption of the tranche as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2005-2 is now …

MARC withdraws rating on Cagamas MBS’s RM385.0 million Tranche 6 under CMBS 2005-2 on full redemption Read More »

Posted Date: December 11, 2020 MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. The ratings affirmation is mainly driven by Northport’s established position in providing container and conventional cargo handling services through North Port …

MARC affirms MARC-1_IS and AA-_IS ratings on Northport’s ICP and IMTN Programmes Read More »

Posted Date: December 10, 2020 MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s (Tanjung Bin O&M) RM470.0 million Islamic Securities (Sukuk Wakalah) with a stable outlook. The rating reflects the credit strength of the issuer’s parent, Malakoff Power Berhad (MPower), which has provided an unconditional and irrevocable undertaking to top up any …

MARC affirms AA-_IS rating on Tanjung Bin O&M’s RM470.0 million Islamic securities Read More »

Posted Date: December 2, 2020 MARC has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) issuance of RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) with a stable outlook. The affirmed rating incorporates the strength of the concession receivables from the government which are channelled to ACSB’s designated accounts for its sukuk payment obligations. …

MARC affirms AA-_IS rating on AZRB Capital’s RM535.0 million Sukuk Murabahah facility Read More »

Posted Date: November 30, 2020 MARC has affirmed its ratings on Alpha Circle Sdn Bhd’s RM540 million Senior Sukuk Musharakah and RM55 million Junior Sukuk Musharakah at AA-IS and AIS. The ratings outlook has been revised to negative from stable. The current outstanding of senior sukuk is RM160 million and junior sukuk is RM55 million. …

MARC affirms Alpha Circle’s ratings but revises outlook to negative Read More »

Posted Date: November 30, 2020 MARC has withdrawn its ratings of MARC-1IS/AAA-IS on Gas Malaysia Berhad’s (Gas Malaysia) RM700 million Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) programmes. The ratings withdrawal follows early termination of the programmes, as confirmed by the facility agent. The ratings carried a stable outlook. The programmes were terminated following an exchange …

MARC withdraws ratings on Gas Malaysia’s RM700 million ICP/IMTN programmes Read More »

Posted Date: November 25, 2020 MARC has assigned a final rating of AA+IS with a stable outlook to Sime Darby Property Berhad’s (SD Property) RM4.5 billion Sukuk Musharakah 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 …

MARC assigns final rating of AA+_IS to Sime Darby Property’s RM4.5 billion Sukuk Musharakah programme Read More »

Posted Date: November 24, 2020 MARC has affirmed its ratings on Sunway Berhad’s issuances under the RM2.0 billion Commercial Papers/Medium-Term Notes (CP/MTN) programmes at MARC-1/AA-. Concurrently, the rating agency also affirmed its ratings on Sunway Treasury Sukuk Sdn Bhd’s issuances under the RM2.0 billion Sukuk Programme and RM10.0 billion Islamic Commercial Paper/Islamic Medium-Term Notes (ICP/IMTN) …

MARC affirms ratings on Sunway’s CP/MTN and Sunway Treasury’s Sukuk and ICP/IMTN programmes Read More »