MARC has assigned a final rating of AAAIS to Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) proposed RM23.35 billion Sukuk Musharakah Programme under which the company is to issue senior secured sukuk. The rating outlook is stable.PLUS Berhad is a wholly owned subsidiary of PLUS Malaysia Sdn Bhd (PLUS Malaysia), a 51:49 joint-venture company incorporated by UEM Group Berhad and Employees Provid...
MARC has assigned long-term and short-term programme ratings of AA-IS and MARC-1IS respectively to Malakoff Power Bhd’s (MPower) RM5.6 billion Murabahah Securities Facility and RM300.0 million Islamic Commercial Paper (ICP) Programme (collectively referred as Sukuk Murabahah Facility). The outlook on the ratings is stable.MPower is a wholly-owned subsidiary of Malakoff Corporation Berhad (Ma...
MARC has downgraded Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) RM1.0 billion Green SRI Sukuk rating to A+IS from AA-IS/Negative and concurrently placed the rating on MARCWatch Negative.
The rating action reflects the heightened risk of termination of solar power purchase agreements (SPPAs) related to QSP Semenanjung’s Merchang and Jasin solar power plant projects follo...
MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme. The rating outlook is stable. PLUS Berhad holds a portfolio of tolled expressways, of which the North-South Expressway (NSE) is its largest revenue source. The affirmed rating continues to incorporate a two-notch rating uplift from PLUS Berhad’s standalone ratin...
MARC has assigned ratings of A+IS and A-IS to Senai-Desaru Expressway Berhad's (SDEB) RM1.89 billion nominal value Senior Sukuk Ijarah Medium Term Notes (Senior Sukuk) Programme and RM3.69 billion nominal value Junior Sukuk Ijarah Medium Term Notes (Junior Sukuk) Programme respectively. Proceeds from the issuance are to primarily refinance existing debt of SDEB. The ratings outlook is stable...
