MARC has lowered its rating on Sistem Penyuraian Trafik KL Barat Sdn Bhd's (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) to A+ID from AA-ID. The rating outlook is stable. Concurrently MARC has affirmed its AA-(bg) rating on SPRINT's RM365 million Bank Guaranteed Serial Fixed Rate Bonds (BG Bonds) with a stable outlook.The rating and outlook of the BG Bonds reflect MAR...

MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna' Bonds) and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) programme at AA-ID and MARC-1ID/AA-ID respectively with a stable outlook. The rating action affects RM220 million of Istisna' Bonds and RM95 million of MCP notes outstanding under the rated progra...

MARC has downgraded the long-term rating to A+ID from AA-ID of KNM Group Berhad’s (KNM) RM1.1 billion Islamic Medium Term Notes (IMTN) Programme and concurrently affirms the short-term rating at MARC-1ID for KNM’s RM400.0 million Islamic Commercial Paper (ICP) Programme. The outlook of the ratings has been revised to developing from stable. Currently there are no notes issued under the...

MARC has downgraded the long-term rating to A+ID from AA-ID and concurrently affirms the short-term rating at MARC-1ID of KNM Capital Sdn Bhd’s (KNM Capital) RM300.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) programme. The outlook of the ratings has been revised to developing from stable. The rating actions affect RM190.0 million of outstan...

MARC has assigned a foreign currency country ceiling of AA with a stable outlook  for foreign currency debt to India on its national rating scale. The Government of India (GOI) has no debt rated by MARC; the country ceiling applies to ringgit-denominated issuances by entities domiciled in India following the rating agency’s decision to incorporate transfer and convertibility (T&C) r...

MARC has affirmed its long-term and short-term issue ratings of AA- and MARC-1 on WCT Berhad (WCT) with a stable outlook. A complete list of the ratings and rated issues is provided at the end of this announcement.The ratings for WCT recognise the group's near-term revenue visibility and its past demonstrated ability to respond to changing market conditions balanced against the business and financ...

MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms) RM100 million Series A, RM90 million Series B and RM10 million Series C Sukuk Ijarah at AAAIS, AAIS and AIS respectively. The ratings carry a stable outlook. The rating action affects RM134.0 million of total outstanding sukuk comprising RM64.0 million Series A sukuk, RM60.0 million Series B sukuk and RM10.0 million Series C ...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg) respectively. The outlook on the ratings for the Class A and B Sukuk have been revised to negative from stable. The revision in outlook reflects increasing concerns on the credit profile of the t...

MARC has downgraded the State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million to AA from AA+ following the incorporation of transfer and convertibility (T&C) risk into the ratings of ringgit-denominated debt issuances by foreign issuers. The outlook is stable.Under the refined methodology, MARC’s approach going forward will be to cap the ratings of non-sovereign forei...

MARC has revised the outlook to negative from stable and affirmed its ratings at AA-IS and MARC-1ID /AA-ID on Alam Maritim Resources Berhad's (Alam Maritim) RM500 million Sukuk Ijarah Medium Term Notes (Sukuk Ijarah MTN) and RM100 million Murabahah Commercial Papers/Murabahah Medium Term Notes (MCP/MMTN) programmes respectively. The rating action affects RM475 million of outstanding notes issued u...