Rating

MARC issues update on UiTM Solar’s RM202.3 million Green SRI Sukuk

Posted Date: November 26, 2021 MARC has been informed that UiTM Solar Power Sdn Bhd’s (UiTM Solar) 50MWac solar photovoltaic plant in Gambang, Pahang had experienced technical issues at its gas-insulated switchgear (GIS) and power transformer. The events have led to the plant currently being non-operational. UiTM Solar’s rating was affirmed at AA-IS/stable during the …

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MARC affirms Tanjung Bin O&M’s rating

Posted Date: November 26, 2021 MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s outstanding RM235 million Sukuk Wakalah with a stable outlook. The rating affirmation reflects the credit strength of Tanjung Bin O&M’s parent, Malakoff Power Berhad (MPower), which has provided an unconditional and irrevocable undertaking to top up any shortfall in …

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MARC affirms MARC-2IS rating on Titijaya’s ICP Programme

Posted Date: November 26, 2021 MARC has affirmed its rating of MARC-2IS on Titijaya Land Berhad’s (Titijaya) RM150 million Islamic Commercial Papers (ICP) Programme. The outstanding notes under the programme stood at RM70.0 million as at end-September 2021. The rating incorporates Titijaya’s track record in developing projects in and around mature housing areas, and its …

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MARC assigns A+IS rating to YNH’S proposed RM700 million sukuk programme

Posted Date: November 26, 2021 MARC has assigned a preliminary rating of A+IS with a stable outlook to YNH Property Berhad’s (YNH) proposed Islamic Medium-Term Notes Programme (Sukuk Wakalah) of up to RM700 million. Proceeds from the initial drawdown of about RM350 million will be utilised to repay a term loan of RM130 million and …

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MARC affirms Malakoff Power’s sukuk rating at AA-IS

Posted Date: November 25, 2021 MARC has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) outstanding RM2.93 billion Sukuk Murabahah with a stable outlook. MPower is the operations and maintenance operator of Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic independent power producers (IPP). MPower is a wholly-owned subsidiary of Malakoff. MARC’s rating approach to MPower …

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MARC assigns final rating of A+IS to Yinson’s RM1.0 billion IMTN Programme

Posted Date: November 25, 2021 MARC has assigned a final rating of A+IS to Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes (IMTN) Programme. The rating outlook is stable. 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 …

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MARC revises Northport’s ratings outlook to positive

Posted Date: November 24, 2021 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 has been revised to positive. The outlook revision incorporates the continued improvement in Northport’s credit metrics on the back of substantial growth in …

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MARC affirms AA- rating on Sports Toto Malaysia’s RM800.0 million MTN Programme

Posted Date: November 23, 2021 MARC has affirmed its rating of AA- on Sports Toto Malaysia Sdn Bhd’s (Sports Toto) RM800.0 million 15-year Medium-Term Notes (MTN) Programme with a stable outlook. The affirmed rating is mainly driven by Sports Toto’s entrenched domestic market position as a number forecast operator (NFO) with the largest number of …

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MARC assigns MARC-1IS /AA-IS ratings to UEM Sunrise’s proposed ICP/IMTN programmes

Posted Date: November 23, 2021 MARC has assigned preliminary ratings of MARC-1IS /AA-IS to UEM Sunrise Berhad’s proposed Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme with a combined nominal value of RM4.0 billion (ICP/IMTN-3). We have concurrently affirmed the existing ratings of MARC-1IS /AA-IS on its two ICP and IMTN programmes …

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