Rating action          MARC Ratings has affirmed its rating of AA- on STM Lottery Sdn Bhd’s RM800.0 million 15-year Medium-Term Notes (MTN) Programme with a stable outlook. Rationale The rating affirmation considers STM Lottery’s entrenched domestic market presence as a number forecast operator (NFO), well-established operating track record and strong ca...

Rating action          MARC Ratings has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) RM10.0 billion nominal value Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. Rationale The affirmed ratings reflect PDB’s well-established track record and its very strong mark...

Rating action          MARC Ratings has affirmed its ratings of MARC-1IS/AA-IS on UDA Holdings Berhad’s (UDA) Islamic Commercial Papers (ICP) Programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) Programme of up to RM1.0 billion, with a combined aggregate limit of up to RM1.0 billion. The ratings outlook is stable. RationaleThe ratings incorpo...

Rating action           MARC Ratings has affirmed its ratings of AAIS /AA on funding vehicle OSK Rated Bond Sdn Bhd’s (OSKRB) Sukuk Murabahah/Multi-Currency Medium-Term Notes (Sukuk/MCMTN) Programmes with a combined limit of up to RM2.0 billion. The ratings outlook is stable. The ratings apply only to ringgit-denominated sukuk/notes under the programmes. The program...

Rating action           MARC Ratings has affirmed its MARC-1IS /AAIS ratings on Cellco Capital Berhad’s (Cellco) RM520 million Issue 1 issued under its Islamic Commercial Papers/Islamic Medium-Term Notes (Sukuk Ijarah Programme) with a combined limit of up to RM1.0 billion. The ratings outlook is stable. Any further drawdown under the programme will require a re-ass...

Rating action          MARC Ratings has assigned a final rating of MARC-1 to CGS-CIMB Securities Sdn Bhd’s (CGS-CIMB) Commercial Papers (CP) Programme of up to RM1.0 billion in nominal value. Concurrently, the rating agency has assigned a non-bank financial institution (NBFI) rating of AA to CGS-CIMB with a stable outlook.RationaleCGS-CIMB’s growing business profi...

Rating action          MARC Ratings has affirmed its AAAIS rating on Amanat Lebuhraya Rakyat Berhad’s (ALR) RM5.5 billion sukuk programme, with a stable outlook. The outstanding under the programme stood at RM5.5 billion as at September 29, 2023.Rationale The rating reflects the strong cash flow generation capacity of ALR’s portfolio of matured highways in th...

Rating action                  MARC Ratings has affirmed its rating on Evyap Sabun Malaysia Sdn Bhd’s (Evyap Malaysia) RM500.0 million Sukuk Wakalah Programme at AA-IS. Concurrently, the rating outlook has been revised to positive from stable. RationaleThe outlook revision reflects Evyap Malaysia’s ability to maintain healthy operating per...

Rating action          MARC Ratings has affirmed its rating of AAAIS(bg)  rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme guaranteed by Bank Pembangunan Malaysia Berhad (BPMB) with a stable outlook. The affirmed rating and outlook are based on MARC Ratings’ assessment of the credit strength of BPMB (AAA/Stable).Ratio...

Rating action           MARC Ratings has affirmed its public information sovereign rating of AAA/Stable on Malaysia, based on its national rating scale. Rationale    The rating reflects the country’s credit strengths, including a competitive and diversified economy that has maintained a relatively steady growth trajectory. For 2023, Malaysia...