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Posted Date: September 27, 2021 MARC has affirmed its AAAIS rating on TNB Western Energy Berhad’s (TNB Western) outstanding sukuk of RM3.7 billion with a stable outlook. TNB Western’s rating is equalised to parent Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable, based primarily on the strength of TNB’s unconditional and irrevocable rolling guarantee …
MARC affirms AAAIS rating on TNB Western Energy’s sukuk Read More »
Posted Date: September 23, 2021 MARC has assigned its AA+IS rating to UMW Holdings Berhad’s (UMW) RM2.0 billion Islamic Medium-Term Notes (IMTN) Programme (Sukuk Musharakah) and AA-IS rating to UMW’s RM2.0 billion Perpetual Sukuk Programme (Perpetual Sukuk). The two-notch rating differential between the Sukuk Musharakah and Perpetual Sukuk is in line with MARC’s methodology on …
MARC assigns AA+IS and AA-IS ratings to UMW’S IMTN and Perpetual Sukuk Programmes Read More »
Posted Date: September 23, 2021 MARC has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on the credit strength of Danajamin Nasional Berhad (Danajamin) which has provided an unconditional and irrevocable financial guarantee insurance on the …
Posted Date: September 21, 2021 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. The affirmed rating is mainly driven by the credit strength of the payment stream from the Malaysian government in the form of availability charges (AC), …
MARC affirms AAAIS rating on Putrajaya Bina’s RM1.58 billion Sukuk Wakalah Programme Read More »
Posted Date: September 21, 2021 MARC has affirmed its ratings on Putrajaya Holdings Sdn Bhd’s (PJH) outstanding issuances at AAAIS with a stable outlook. PJH’s timely receipt of sizeable rental income from the Malaysian government under long-term lease-and-sublease agreements and the strength of its government-linked shareholding structure remain key rating drivers. PJH is the master …
MARC affirms AAAIS ratings on Putrajaya Holdings’ Islamic debt programmes Read More »
Posted Date: September 20,2021 MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM790.0 million Sukuk Ijarah. The rating outlook is maintained at negative. KEV, which owns and operates the 2,200MW Kapar Power Station in Klang, has seen an improvement in the operating performance of two of its three generating …
MARC affirms AA+IS rating on Kapar Energy Ventures’ Sukuk Ijarah Read More »
Posted Date: September 14, 2021 MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding sukuk of RM1.35 billion with a stable outlook. TNB Northern is the funding vehicle for its parent TNB Prai Sdn Bhd to develop and operate the 1,071.43-MW combined-cycle gas turbine (CCGT) power plant in Seberang Perai …
MARC affirms TNB Northern Energy’s rating with stable outlook Read More »
Posted Date: September 10, 2021 MARC has affirmed its insurer financial strength rating of AA+ with a stable outlook on International General Insurance Co Ltd (IGI). The Bermuda-based insurer’s strong premium growth, well-diversified underwriting portfolio and strong capitalisation remain key rating drivers. A key moderating factor is IGI’s moderate asset size which stood at US$1.3 …
MARC affirms International General Insurance’s rating at AA+ with stable outlook Read More »
Posted Date: September 9, 2021 MARC has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s (UiTM Solar 2) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM100.0 million. The rating outlook is stable. UiTM Solar 2 owns a 25MWac solar photovoltaic plant in Pasir Gudang, Johor, which was developed under a …
MARC affirms UiTM Solar Power Dua’s sukuk rating at AA-IS Read More »
Posted Date: September 9, 2021 MARC has maintained its CIS ratings on property developer Talam Transform Berhad’s (Talam) outstanding RM40.0 million Settlement Bithaman Ajil Islamic Debt Securities (Settlement BaIDS) as of June 9, 2021. The rating continues to reflect the substantial risk of default on the Settlement BaIDS, notwithstanding the extension of the maturity date …
MARC maintains Talam Transform’s settlement BaIDS’ rating at CIS Read More »