MARC has lowered its debt rating on Petra Perdana Berhad's (Petra Perdana) RM800 million Dual Currency Revolving Facility to A- from A+ and removed the rating from MARCWatch Negative. The rating action affects RM175 million of outstanding secured serial bonds and RM25 million of medium-term notes issued under the facility. The downgrade reflects declining revenues, negative cash flows, a heavy deb...

MARC has affirmed its ratings of MARC-2/A+ on retailer Asia Brands Corporation Berhad’s (Asia Brands) RM70 million Commercial Papers/Medium Term Notes (CP/MTN Programme) with a stable outlook. Concurrently, MARC is withdrawing its rating on the facility following the full redemption of outstanding debt and cancellation of the CP/MTN Programme facility. The ratings and outlook are underpinned...

MARC has affirmed its AAAID/MARC-1ID and MARC-1ID ratings on conglomerate Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Note Programme (IMTN Programme) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes Programme (ICP/IMTN Programme) with a combined limit of RM4.5 billion, and RM150 million Underwritten Murabahah Commercial Papers (MCP) Facility respec...

MARC has assigned a rating of AAA(bg) to Boustead Holdings Berhad's (Boustead Holdings, or the holding company) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) Programme. The outlook on the rating is stable.The rating reflects external credit enhancement for the notes that will be provided by financial institutions with a current rating of AAA/Stable from MARC. Any subsequent rating actio...

MARC has affirmed its AAAID and MARC-1ID /AAAID ratings on MISC Berhad’s (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) Programme and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with a stable outlook. The affirmed ratings reflect MISC’s established position and long track record in the energy transportation segment, the close strategic alignmen...

MARC has placed its AAIS senior and AA-IS subordinate debt ratings for DRIR Management Sdn Bhd’s (DRIRM) Class A and Class B Sukuk Ijarah on MARCWatch Developing pending completion of a proposed refinancing of the Sukuk. The seller-lessee in the Sukuk Ijarah's underlying sale and leaseback transaction and sister company, MHS Aviation Berhad (MHSA), is seeking to restructure its lease obligat...

MARC has affirmed its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) issuance of up to RM500 million in nominal value. The rating reflects the strength of the unconditional and irrevocable bank guarantee of up to RM420 million by Kuwait Finance House (Malaysia) Berhad (KFHMB). MARC has recently affirmed KFHMB’s long-term financial ...

MARC has removed KMCOB Capital Berhad’s (KMCOB) RM630 million Murabahah Medium Term Notes (MTNs) from MARCWatch Developing.  At the same time, MARC has affirmed its AA-ID(CG) debt rating on KMCOB with a Stable outlook following the recent completion of Scomi Oilfield Limited’s (SOL) debt rationalisation exercise. KMCOB Capital is a funding vehicle for SOL, and the MTNs are ultimat...

MARC has affirmed UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Papers (ICP)/Medium Term Notes and RM500 million Islamic Medium Term Notes (IMTN) Programmes at MARC-1ID /AAAID respectively. The ratings are based on the company’s consolidated credit quality which incorporates the group’s leading and dominant market position in the national (Perodua) and non-national...

MARC has lowered Dawama Sdn Bhd’s (Dawama) RM120.0 million Senior and RM20.0 million Junior Sukuk Musyarakah Medium Term Notes Programme (Sukuk) to AIS and A-IS respectively from A+IS and AIS. The outlook for the rating has been revised to negative from stable. The rating actions are premised on Dawama’s weakened credit profile stemming from significant losses for the 17-month accounti...