The rating of CNLT (Far East) Bhd’s existing GRUNIF has been rationalized to MARC-2 (bg) following the completion of the merger of financial institutions within the consortium of bank guarantors. The notes are secured against unconditional and irrevocable bank guarantees in respect of the redemption of up to the face value of the notes issued. The rating reflects the strength of the bank guara...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term rating of MARC-1 (bg) (MARC 1, bank guaranteed) and long term rating of A- (bg) (Single A minus, bank guaranteed) on Kuala Sidim Berhad’s (KSB) Tranche 1-RM50 Million Guaranteed Commercial Papers/Medium-Term Notes and a short term rating of MARC-3 (MARC 3) and long term rating of BBB+ (Triple B plus) on KSB’s Tranche 2-RM50 M...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM800 million 1-month (discount) Notes issued on 30 January, 2002. The 1-month Notes carry an average discount rate of 2.718% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industria...

MARC is pleased to announce that for the period January to December 2001, MARC had completed a total of 34 corporate debt issue ratings, valued at RM13.58 billion. Of the 34 corporate debt issues rated, 24 were Islamic private debt securities with a total value of RM10.68 billion, constituting 78.6% of the rated value. Aseambankers Malaysia Berhad topped MARC’s Lead Managers Table for 2001, in...

MARC has assigned a MARC-1(bg)/A(bg) (single A flat, bank guaranteed) rating on Pembangunan Leasing Corporation’s (PLC) Guaranteed Notes Issuance Programme comprising the issuance of Commercial Papers and Medium Term Notes. The rating reflects the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) which carries a rating o...

The affirmation on the rating of AA ID (Double AA Islamic Debt)/MARC-1 ID for Puncak Niaga (M) Sdn Bhd’s ABBA serial bonds and MuCP/MTN programme reflects the monopolistic nature of the water industry, unfaltering demand fundamentals for treated water, continued favorable project risk allocations via its concession structure, satisfactory operating performance of its water treatment plants (WTP)...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed MISC’s RM1.5 billion Murabahah Commercial Paper/Medium Term Notes Programme (2000/2005) ratings of MARC-1ID/AAAID (Islamic Debt). The affirmed ratings on MISC reflect MARC’s belief that the solid operating fundamentals of MISC’s Liquefied Natural Gas (LNG) shipping segment will provide the company with a strong ability to withstand ...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term rating of MARC-3 ID (MARC 3, Islamic Debt) in respect of Teratas Dagang Sdn Bhd’s (TDSB) proposed RM25.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF). Positive factors supporting the rating are the off-taker of the project which is the government/Kementerian Dalam Negeri (KDN) and the underlying issue structu...

ARL Tenaga Sdn Bhd’s (ARLT) AID rating affirmation reflects the stable and predictable cash flow which is expected to cover the company’s debt servicing requirements comfortably; the presence of a long-term fuel supply contract which eliminates supply disruption risk; the adoption of proven engine design and well-developed operating methods for its plant and an issue structure which promotes t...

Labuan-based MARC International Limited (MARC International), a wholly owned subsidiary of Malaysian Rating Corporation Berhad, has assigned a long-term foreign currency Islamic capital market instrument rating of BBB+is (Triple B plus, Islamic Sukuk) to the USD395 million serial Islamic lease Sukuk issuance to be made by First Global Sukuk Inc., a Labuan-incorporated special-purpose vehicle (SPV)...