MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to Johor Port Berhad’s (JPB) Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes with a combined aggregate limit of RM1.0 billion. The long-term rating carries a stable outlook.
The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary ratings were based.
For full details on the assigned ratings, please see JPB’s preliminary ratings announcement dated August 16, 2022. The complete analysis is provided in the Credit Analysis Report which is available here.