MARC Ratings has maintained its AA-_IS rating on MMC Corporation Berhad’s (MMC) Sukuk Murabahah Programme following an upsize of the programme limit to RM3.5 billion from RM2.5 billion. The rating outlook remains stable.

Proceeds from issuances under the upsized programme will be used to fund working capital for its engineering projects, among others. The rating remains underpinned by MMC’s competitive strengths and longstanding track record in key sectors of the economy, including ports and logistics, engineering, and energy and utilities.

Full details on the rating have been provided in MMC’s Credit Analysis Report published on November 8, 2024, which is available on MARC’s website at https://online.marc.com.my.