Rating

Posted Date: September 30, 2020   MARC has affirmed its AA-IS rating on Konsortium KAJV Sdn Bhd’s (KAJV) RM1.0 billion Sukuk Wakalah Programme with a stable outlook. KAJV is a single-purpose company undertaking the Kuala Terengganu Utara (KTU) water supply project for the Terengganu State Government. The rating reflects the credit strength of the Terengganu …

MARC affirms rating of AA-_IS on Konsortium KAJV’s RM1.0 billion Sukuk Wakalah programme Read More »

Posted Date: September 29, 2020 MARC has assigned preliminary ratings of AAIS/AA to special purpose vehicle OSK Rated Bond Sdn Bhd’s (OSKRB) proposed Sukuk Murabahah/Multi-Currency Medium-Term Notes Programme (Sukuk/MCMTN) with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The assigned ratings apply to ringgit-denominated sukuk/notes issued under the programme. Wholly …

MARC assigns AAIS/AA ratings to OSK Unit’s proposed Sukuk/MCMTN Read More »

Posted Date: September 18, 2020 MARC has assigned a preliminary rating of AAAIS to Pengerang LNG (Two) Sdn Bhd’s (PLNG2) proposed Islamic Medium-Term Notes (IMTN) programme of up to RM3.0 billion. The rating outlook is stable. PLNG2 owns a regasification terminal, Regasification Terminal Pengerang (RGTP), through which natural gas is supplied to the Pengerang Integrated …

MARC assigns preliminary rating of AAA_IS to PLNG2’s proposed Islamic MTN programme Read More »

Posted Date: September 18, 2020 MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding Islamic securities (sukuk) of RM1.415 billion. The rating carries a stable outlook. TNB Northern is a funding vehicle of TNB Prai Sdn Bhd which owns and operates a 1,071.43-MW combined-cycle gas turbine power plant in Seberang …

MARC affirms AAA_IS rating on TNB Northern Energy’s sukuk Read More »

Posted Date: September 18, 2020 MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The rating is mainly driven by UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) under …

MARC affirms UITM Solar Power’s sukuk rating at AA-_IS Read More »

Posted Date: September 14, 2020 MARC has affirmed its AAIS rating on BEWG (M) Sdn Bhd’s (BEWG) RM400 million Sukuk Wakalah with a stable outlook. BEWG is a 100%-subsidiary of Hong Kong-based Beijing Enterprises Water Group Limited (BEWGL) and was awarded a design-and-build contract to refurbish and upgrade the Kemaman Water Project by the Terengganu …

MARC affirms AAIS rating on BEWG’s RM400.0 million Sukuk Wakalah Read More »

Posted Date: September 9, 2020 MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s (TNB Western) sukuk of up to RM4.0 billion. The rating carries a stable outlook. The rating is equalised to its ultimate parent Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable based on the unconditional and irrevocable rolling guarantee …

MARC affirms AAA_IS rating on TNB Western Energy’s sukuk Read More »

Posted Date: September 2, 2020 MARC has affirmed its A+IS(s) rating on Projek Lintasan Sungai Besi-Ulu Klang Sdn Bhd’s (PLSUKE) Sukuk Wakalah Programme (Sukuk Wakalah) of up to RM2.0 billion. The rating outlook has been revised to stable from negative. The previous negative outlook reflected a potential construction delay then in relation to the company’s …

MARC affirms ratings on PLSUKE’S Sukuk Wakalah and Danajamin-guaranteed sukuk Read More »

Posted Date: August 25, 2020 MARC has affirmed its financial institution (FI) ratings on CIMB Bank Berhad at AAA/MARC-1/Stable. Concurrently, the ratings on the bank’s existing subordinated debt programmes have been affirmed. These ratings have been notched down from the bank’s long-term FI rating based on their relative loss severity risk profiles. The subordinated debt …

MARC affirms CIMB Bank’s financial institution and corporate debt ratings Read More »

Posted Date: August 25, 2020 MARC has affirmed its long-term and short-term corporate credit ratings of AA+/MARC-1 on CIMB Group Holdings Berhad (CIMB Group) and its issue rating of AA on the group’s RM10.0 billion Basel III-compliant Tier 2 Subordinated Debt Programme. The ratings outlook is stable. CIMB Group is a non-operating financial holding company …

MARC affirms CIMB Group Holdings ratings Read More »