MARC has affirmed the ratings of Serrisa Sinar Berhad’s (Serrisa Sinar) RM200 million ICP/IMTN notes and RM20 million Junior IMTN at MARC-1ID/AAID and A+ID respectively. The outlook of the ratings is stable. The rating action affects RM100 million of outstanding notes issued under the programme. The rating of the Junior Notes reflects its subordination to the Senior Notes in respect of profi...

MARC has affirmed its AAA and AAAID ratings on The Export-Import Bank of Korea’s (KEXIM) conventional and Islamic Medium Term Notes Programmes with a combined nominal value of RM3.0 billion. The outlook on the ratings is stable. The ratings reflect KEXIM’s public policy role in supporting the Republic of Korea’s (South Korea) export and import industries, its strong standalone fi...

MARC has affirmed its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C Notes (collectively known as Notes Series 2007-A). Notes Series 2007-A represents the first series of issuances backed by a RM500.0 million portfolio of hire purchase receivables (Portfolio 2007-A) under Class Auto’s RM10.0 billion...

MARC has affirmed its rating on property developer Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium Term Notes (IMTN) facility at A+ID and maintained the issue’s stable rating outlook. Sunrise continues to exist as a separate corporate entity after its acquisition by UEM Land Holdings Berhad (UEM Land) without major changes to its business strategy. The rating action reflects MA...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The ratings outlook is maintained at negative to reflect a potential withdrawal of government support arising from negative public sentiment surrounding the perceived RM4,632 million bail-out of the Port Klang Free Zone (PKFZ) project and the ongoin...

MARC has affirmed its ratings on Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds (FRSB) and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA respectively. The ratings outlook is maintained at negative to reflect a potential withdrawal of government support arising from negative public sentiment surrounding the perce...

MARC has affirmed its AA-ID rating on highway concessionaire Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Issuance Programme under the Shariah principle of Musyarakah. The rating outlook is stable. Factors that continue to support the rating are improved toll revenue arising from satisfactory traffic growth and a favourable amortisation profile with no de...

MARC has affirmed its ratings of AAAID(S) on the respective Al-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) issuances of Optimal Glycols (Malaysia) Sdn Bhd (Glycols) and Optimal Chemicals (Malaysia) Sdn Bhd (Chemicals) with a stable outlook. The rating actions affect RM155 million of outstanding BaIDS issued by Glycols and RM185 million of outstanding BaIDS issued by Chemicals.The ratings hav...

MARC affirmed its short-term and long-term Islamic debt ratings of MARC-1ID/AAAID on UMW Holdings Berhad (UMW) and maintained its stable outlook on the ratings. The rating actions affect RM610 million of outstanding notes issued under the investment holding company's RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme and RM500 million Islamic Medium Term Notes (I...

MARC has assigned the AAAIS(fg) rating to Sukuk issued under a RM380 million Islamic Medium Term Notes (IMTN) Programme by Senari Synergy Sdn Bhd (Senari Synergy). The outlook on the rating is stable. The rating and rating outlook reflect MARC's credit rating of AAA/stable on Danajamin Nasional Berhad (Danajamin) which is providing an unconditional and irrevocable guarantee to meet obligations on ...