MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution ratings of AA+/MARC-1, following the rating agency's affirmation of the long-term and short-term financial institution ratings of its parent, Kuwait Finance House K.S.C. (KFH) at AAA/MARC-1. The outlook on the ratings of both institutions has been revised to stable from negative.The lo...

MARC has affirmed its rating of A- on Perdana Petroleum Berhad's (Perdana Petroleum, formerly known as Petra Perdana Berhad) Dual Currency Revolving Programme with a negative outlook. The rating action affects outstanding secured serial bonds of RM105 million issued under Tranche 1 of the programme.The bonds are the company's remaining obligations under the programme with the November 2011 repayme...

MARC lowered its issue rating on funding vehicle KMCOB Capital Berhad's (KMCOB) RM630 million Murabahah Medium Term Notes to A+ID(cg) from AA-ID(cg).  The rating was removed from MARCWatch, where it was placed with negative implications on July 27, 2011. MARC also lowered its issue rating on ultimate parent Scomi Group Bhd’s (Scomi) RM500 million Medium Term Notes Programme to A+ from A...

MARC has affirmed its MARC-1/AAA rating of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes issued under its RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The programme allows for the issuance of junior Class B notes which would carry a rating of MARC-1/AA. However, Inverfin currently has no outstanding Class B notes issued under this programme. The ratin...

MARC has lowered its ratings on Ample Zone Berhad’s (Ample Zone) RM9.65 million Class B Sukuk Ijarah (sukuk) and RM75 million Class C sukuk to BB+IS and B-IS from A-IS and B+IS respectively. The outlook on the ratings remains negative. The downgrades reflect a heightened risk that upcoming payment obligations in January 2012 will be missed, based on the unsatisfactory progress to date in col...

MARC has assigned an insurer financial strength of AA- on Malaysia’s national rating scale to Luxembourg-based Atlanticlux Lebensversicherung S.A. (ATL). ATL's insurer financial strength rating incorporates its satisfactory operating performance and comfortable solvency position that is supported by its focus on low capital-intensity investment-linked life insurance business and significant ...

MARC has affirmed its ratings on special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) (Senior Notes) and RM10 million Junior Islamic Medium Term Notes (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The rating outlook is stable. The rating action affects RM25 million ...

MARC has affirmed its issue rating of AAA on Oversea-Chinese Banking Corporation Limited's (OCBC) redeemable subordinated bond of up to RM2.5 billion with a stable outlook. The affirmed issue rating reflects the franchise strength of the financial services group, its relatively good earnings stability, and very strong regulatory capitalisation. MARC further notes that the continued deepening of OC...

MARC affirmed its short-term and long-term ratings on LBS Bina Group Bhd’s (LBS Bina) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) Programme at MARC-1IS(fg) /AAAIS(fg) and maintained its stable outlook on the ratings. The rating action affects RM115 million of notes issued under the programme. The ratings and outlook are underpinned by an unconditional and irr...

MARC has affirmed its ratings on Konsortium Lebuhraya Utara – Timur (KL) Sdn Bhd’s (Kesturi) RM820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and RM50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.The ratings reflect adequate growth in vehicle traffic on the strategically locate...