Rating

Posted Date: March 31, 2020 MARC has affirmed its A+IS rating on toll concessionaire Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS). The outlook on the rating remains developing. To date, the proposed takeover of the four highway concession assets under Gamuda Berhad including SPRINT is still unresolved. […]

Posted Date: March 25, 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) Programme of up to RM2.0 billion with a stable outlook. The ratings reflect PDB’s leading market position in the domestic downstream petroleum products segment and its healthy financial metrics,

Posted Date: March 13, 2020 MARC has affirmed its AA-IS rating on MMC Corporation Berhad’s (MMC) RM2.5 billion Sukuk Murabahah Programme with a stable outlook. The affirmed rating remains driven by MMC’s significant strength in ports and logistics, engineering, and utilities operations that continue to be steadily strengthened. Underpinned by long-term concessions (ports and utilities)

Posted Date: March 11, 2020 MARC has affirmed its AA-IS rating on Cerah Sama Sdn Bhd’s RM420 million sukuk. The rating outlook is stable. Cerah Sama is the investment holding company of Grand Saga Sdn Bhd, the concessionaire of the 11.5-km Cheras-Kajang Highway. The rating affirmation reflects (1) Cerah Sama’s resilient cash flows and revenue,

Posted Date: March 10, 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 (O&M) operator of its parent company Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic power plants. The rating considers the consolidated credit profile of MPower and Malakoff,

Posted Date: March 06, 2020 MARC has affirmed its financial institution (FI) rating of AAA on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The rating is driven by CGC’s status as a development financial institution (DFI) for which the government through Bank Negara Malaysia (BNM), CGC’s main shareholder, has continued to provide

Posted Date: March 05, 2020 MARC has affirmed the financial institution (FI) rating of AAA on The Export-Import Bank of Korea (KEXIM) and the issue rating of AAA on its Medium-Term Notes programme of RM1.0 billion. The FI and issue ratings are based on the domestic rating scale. The ratings outlook is stable. The FI

Posted Date: March 05, 2020 MARC has affirmed its AAIS rating on Fortune Premiere Sdn Bhd’s RM3.0 billion Multi-Currency Islamic Medium-Term Notes Programme (Sukuk Murabahah). The rating outlook is stable. Fortune Premiere is a funding vehicle for its parent IOI Properties Group Berhad (IOI Properties) which has provided an unconditional and irrevocable corporate guarantee on

Posted Date: March 02, 2020 MARC has assigned ratings of AAA, AA and B- to Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings carry a stable outlook. Proceeds from the

Posted Date: February 25, 2020 MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and sukuk rating of AAAIS on TNB’s RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook on the ratings is stable. The ratings continue to incorporate a two-notch uplift from TNB’s standalone corporate credit rating of AA to reflect MARC’s