MARC has downgraded its rating on Scomi Group Berhad's RM500 million Medium Term Notes programme to BBB+ from A. The rating continues to be maintained on MARCWatch Negative. The rating action affects RM200 million of outstanding notes. The downgrade in Scomi's rating reflects noteholders' rising susceptibility to event risk as a result of a delay encountered in the completion of its announced dive...

MARC has affirmed its AAA financial institutions rating on Bank Pembangunan Malaysia Berhad (BPMB).  In addition, MARC has also affirmed its MARC-1ID / MARC-1 programme ratings on BPMB’s up to RM2.0 billion Islamic and/or Conventional Commercial Papers (CP) Programme with a stable outlook.  The ratings continue to reflect support uplift from the Government of Malaysia on account of...

MARC has affirmed its AAA/MARC-1 financial institution ratings on Maybank Islamic Berhad (Maybank Islamic). In addition, MARC has also affirmed its AA+IS rating on Maybank Islamic’s Islamic Subordinated Sukuk issuance of RM1.0 billion in nominal value. The outlook of the ratings is stable. The subordinated sukuk, which qualifies as Tier-2 capital for Maybank Islamic, is rated one notch lower...

MARC has lifted the suspension of its rating of B+ID on Trinity Corporation Berhad’s (Trinity) outstanding RM95.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDS) and placed the rating on MARCWatch Negative.Since MARC announced the suspension of Trinity’s rating on February 27, 2012, the rating agency has received pertinent information on Trinity from the company&rsq...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds (CMBS 2007-2) of RM2,410.0 million with a stable outlook. The rating action affects the outstanding bonds of approximately RM1,895.0 million. The affirmed rating on the residential mortgage-backed bonds reflect a strong credit enhancement level of 133.7% for the outstanding bonds, supp...

MARC has affirmed its rating of AAAIS(bg) and AAAIS(fg) on Ranhill Power Sdn Bhd’s (Ranhill Power) RM300 million bank guaranteed (Tranche 1) and RM500 million Danajamin Nasional Bhd (Danajamin) guaranteed (Tranche 2) Sukuk Musharakah facility respectively. The outlook for both ratings is maintained at stable.The rating on Tranche 1 reflects the credit strength of an unconditional and irrevoc...

MARC has affirmed its AAAIS rating on Cagamas MBS Berhad’s (Cagamas MBS) RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. The rating action affects outstanding Sukuk of approximately RM1,525.0 million, following the redemption of the RM255.0 million Tranche 2 Sukuk on May 29, 2012. The affirmed rating reflects a strong credit enhancement level o...

MARC has affirmed its ratings of AAAID(S) on the respective Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) issuances of PETRONAS Chemicals Glycols Sdn Bhd (Glycols) (formerly known as Optimal Glycols (Malaysia) Sdn Bhd) and PETRONAS Chemicals Derivatives Sdn Bhd (Derivatives) (formerly known as Optimal Chemicals (Malaysia) Sdn Bhd) with a stable outlook. The rating actions affect RM15...

MARC has affirmed its rating of AAAIS(fg) on 1 Warisan Sdn Bhd’s (1 Warisan) RM170.0 million seven-year Islamic Medium Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are underpinned by an unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in relation to the IMTN Programme. MARC currently rates Danajamin’...

MARC has affirmed its AAA rating on Cagamas MBS Berhad’s (Cagamas MBS) mortgage-backed fixed rate serial bonds of RM2,060.0 million (CMBS 2005-2) with a stable outlook. The rating action affects the outstanding bonds of RM1,585.0 million. The affirmed rating on the residential mortgage-backed bonds reflect strong credit enhancement levels for the outstanding bonds based on the transaction&rs...