Rating

Posted Date: August 7, 2020 MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. The ratings outlook has been revised to stable from positive. The affirmed senior sukuk rating is underpinned by our view […]

Posted Date: July 30, 2020 MARC has assigned a final rating of AA-IS to Malaysian Resources Corporation Berhad’s (MRCB) proposed Islamic Medium-Term Notes Programme of up to RM5.0 billion (Sukuk Murabahah) with a stable outlook. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have

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

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

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

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

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

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

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.

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