Rating

Posted Date: July 27, 2020 MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah. The rating outlook has been revised to negative from stable. KEV owns and operates the 2,200 MW Kapar Power Station. The affirmed rating benefits from a two-notch support uplift from KEV’s standalone rating …

MARC affirms rating on Kapar Energy Ventures’ RM2.0 billion Sukuk Ijarah at AA+_IS Read More »

Posted Dated: July 24, 2020 MARC has assigned a final rating of AAAIS/MARC-1IS to Gas Malaysia Distribution Sdn Bhd’s proposed Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion. The ratings outlook is stable. The rating agency has reviewed the final documentation for the …

MARC assigns final rating of AAA_IS/MARC-1_IS to Gas Malaysia Distribution’s proposed Islamic MTN/CP Read More »

Posted Date: July 24, 2020 MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. This rating action follows from the previous rating actions in January and April 2020. The MARCWatch extension continues to reflect the pending outcome of the ongoing negotiations on toll restructuring between the …

MARC extends MARCWatch Developing placement on PLUS Read More »

Posted Date: July 22, 2020 MARC has affirmed TSH Sukuk Murabahah Sdn Bhd’s RM150 million Medium Term Notes (IMTN) programme rating at A+IS and concurrently upgraded its RM50 million Sukuk Murabahah Commercial Papers (ICP) programme rating to MARC-1IS from MARC-2IS. The rating agency has also affirmed TSH Sukuk Ijarah Sdn Bhd’s RM300 million IMTN programme …

MARC affirms TSH’s long-term ratings and upgrades short-term rating Read More »

Posted Date: July 22, 2020 MARC has affirmed its long-and short-term financial institution (FI) ratings of AA- and MARC-1 on KAF Investment Bank Berhad (KAF IB) with a stable outlook. The ratings are mainly driven by KAF IB’s low-risk business model and its strong liquidity and capitalisation levels that are underpinned by a conservative investment …

MARC affirms KAF Investment Bank’s FI ratings at AA-/MARC-1 Read More »

Posted Date: July 17, 2020 MARC has affirmed its ratings on national mortgage corporation Cagamas Berhad’s bonds and sukuk issues as follows: •   Conventional and Islamic Commercial Papers (CP/ICP) programmes with a combined aggregate limit of RM20.0 billion at MARC-1/ MARC-1IS ; and •   Conventional and Islamic Medium-Term Notes (MTN/IMTN) programmes of up to RM60.0 …

MARC affirms Cagamas’ ratings with stable outlook Read More »

Posted Date: July 17, 2020 MARC has affirmed its insurer financial strength (IFS) rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad (Danajamin). Concurrently, the rating agency affirmed the ratings of AAAIS and AA+IS on the Senior and Subordinated Sukuk Murabahah of up to RM2.0 billion under Danajamin’s Sukuk Murabahah programme. …

MARC affirms Danajamin’s ratings with stable outlook Read More »

Posted Date: July 1, 2020 MARC has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah of up to RM245.0 million. The rating outlook is stable. Sinar Kamiri owns and operates a 49.0MWac solar photovoltaic plant (SPP), which has been operational since November 27, 2018. The affirmed …

MARC affirms AA-_IS rating on Sinar Kamiri’s Green Sri Sukuk Wakalah Read More »

Posted Date: July 01, 2020 MARC has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) issuances under the following programmes: RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS / stable; RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS / stable; and RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033) at …

MARC affirms AAA_IS ratings on Putrajaya Holdings’ Islamic Debt Programmes Read More »

Posted Date: July 01, 2020 MARC has affirmed its AAAIS rating on Putrajaya Bina Sdn Bhd’s (PBSB) RM1.58 billion Islamic Medium-Term Notes (Sukuk Wakalah) Programme. The rating outlook is stable. PBSB was established as a funding vehicle for its parent Putrajaya Holdings Sdn Bhd (PJH) (AAA/Stable) to undertake the development of nine blocks of government …

MARC affirms AAA_IS rating on Putrajaya Bina’s RM1.58 billion Sukuk Wakalah Programme Read More »