MARC has affirmed the ratings on special purpose company Inverfin Sdn Bhd’s (Inverfin) RM200 million Medium-Term Notes (MTN) Programme comprising RM185 million of Tranche A notes and RM15 million of Tranche B notes at AAA and AA respectively. The outlook on the ratings is stable. The lower rating on the Tranche B notes reflects its subordination to Tranche A notes in respect of payment prio...

MARC has assigned ratings of MARC-1/AA to Murud Capital Sdn Bhd’s (Murud Capital) Senior Commercial Papers/Medium Term Notes (CP/MTN) Programme of up to RM290 million. The outlook on the ratings is stable. The Senior CP/MTN Programme will be established alongside an unrated subordinated Junior CP/MTN Programme of up to RM450 million. The combined limit of both the Senior and Junior CP/MTN Progr...

MARC has affirmed its AAA rating on Woori Bank’s RM1.0 billion Medium-Term Notes (MTN) programme. The outlook on the rating is maintained at stable. The affirmed rating reflects Woori Bank’s strong banking operations in the Republic of Korea (South Korea), its stable funding and liquidity profiles as well as its sound capitalisation. The rating also considers Woori Bank’s contin...

MARC has affirmed A+ID and AA-(bg) ratings on Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM365 million Bank Guaranteed Serial Fixed Rate Bonds (BG bonds) respectively. The outlook on the ratings is stable. SPRINT is the owner and concessionaire of three interlinked highways, namely the Damansara Link, Kerinchi ...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and Islamic debt rating of AAAID on its outstanding RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook on the ratings is stable. The ratings continue to incorporate a two-notch uplift from TNB’s standalone corporate credit rating of AA/Stable to reflect the high likelihood of government support stemming from the compa...

MARC has affirmed its MARC-1IS /AA-IS  ratings on property developer UEM Sunrise Berhad’s (UEM Sunrise) Islamic Commercial Paper (ICP) Programme and Islamic Medium- Term Notes (IMTN) Programme with a combined nominal value of RM2.0 billion and a sub-limit of RM500.0 million on the ICP Programme. The outlook on the ratings is stable. UEM Sunrise’s long-term rating benefits from a ...

MARC has affirmed its rating of AA-ID on Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. Sunrise’s rating is equalised to that of its parent, UEM Sunrise Berhad (UEM Sunrise), premised on MARC’s assessment of Sunrise’s position as a core subsidiary of UEM Sunrise. This is evidenced by the high degree of operational...

MARC has affirmed the AAAIS rating on tolled road concessionaire Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme (sukuk) with a stable outlook. The rating affirmation continues to incorporate a two-notch rating uplift from PLUS Berhad’s standalone rating of AA on the basis of support assumption from the Malaysian government with respect to the pro...

MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is the funding vehicle of Trans Thai-Malaysia (Thailand) Ltd (TTMT) for the construction of two additional gas pipelines to transport natural gas from the Malaysia-Thailand Joint Development Area (JDA) in the Gulf of Thailand to the industrial city of Rayong in Thail...

MARC has assigned final short-term ratings of MARC-1/ MARC-1ID to Cagamas Berhad’s (Cagamas) Conventional and Islamic Commercial Paper (CCP/ICP) programmes respectively with an aggregate combined limit of RM20.0 billion. Concurrently, MARC maintains its existing Cagamas debt issue ratings as follows: (1) Conventional and Islamic Medium-Term Notes Programmes of up to RM40.0 billion at AAA / ...