MARC has assigned a rating of AAAIS(fg) to 1 Warisan Sdn Bhd’s (1 Warisan) RM170.0 million 7-year Islamic Medium Term Notes (IMTN) Programme. The rating carries a stable outlook. The assigned 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 Danajam...

MARC has affirmed its A rating on Aliran Ihsan Resources Berhad’s (AIRB) RM28.5 million outstanding Redeemable Convertible Unsecured Loan Stocks (RCULS) with a stable rating outlook. The rating continues to reflect the strength and stability of the income stream of wholly-owned subsidiary Southern Water Corporation Bhd (SWC) and 49% associate company Equiventures Sdn Bhd (ESB), as well as AI...

MARC has assigned the following long-term ratings to Special Coral Sdn Bhd’s (Special Coral) RM300 million Senior Class MTNs (Senior Notes) classes:  Senior Class MTNIssue sizeRatingOutlook1.Class ARM160 millionAAAStable2.Class BRM40 millionAAStable3.Class CRM35 millionAStable4.Class DRM25 millionBBBStable5.Class ERM10 millionBBStable6.Class FRM30 millionBStableTotalRM300 millionAt the ...

MARC has assigned its MARC-1ID/MARC-1 ratings to Bank Pembangunan Malaysia Berhad’s (BPMB) proposed Islamic Commercial Papers and/or Conventional Commercial Papers pursuant to the Commercial Papers Programme of up to RM2.0 billion in nominal value. At the same time, MARC has also affirmed BPMB’s financial institution rating of AAA. The rating outlook is stable. The ratings reflect BPMB...

MARC has assigned long-term and short-term financial institution ratings of AAA/MARC-1 to Maybank Islamic Berhad (Maybank Islamic). At the same, MARC has also assigned a AA+IS rating to Maybank Islamic’s Islamic Subordinated Sukuk issuance of RM1.0 billion in nominal value. The outlook on the ratings is stable. Maybank Islamic’s financial institution ratings are equalised with its pare...

MARC has assigned a rating of AAAIS(fg) to TSH Sukuk Musyarakah Sdn Bhd’s (TSH Sukuk-M) RM100.0 million Islamic Medium Term Notes (IMTN) Programme. The rating carries a stable outlook. The assigned 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 D...

MARC has assigned its long-term and short-term financial institution ratings of AAA/MARC-1 to Malayan Banking Berhad (Maybank). The ratings reflect Maybank’s entrenched market position as the largest commercial bank in Malaysia, strong financial profile with adequate capitalisation and liquidity, improving asset quality and resilient recurring earnings stream from its geographically diversif...

MARC has removed its AIS rating on Matang Highway Sdn Bhd's (Matang) RM70.0 million Sukuk Musharakah (Sukuk) from MARCWatch Negative, where it had been placed on December 13, 2010 to highlight a potential shortfall and departure from the scheduled build-up of the sinking fund. Matang is a wholly-owned single-purpose funding vehicle of Zecon Berhad (Zecon). Its payment obligations under the fully-a...

MARC has upgraded Tenaga Nasional Berhad’s (TNB) issuer and Islamic debt ratings to AAA and AAAID respectively from AA+ and AA+ID. The rating action affects the following outstanding issues: i) RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility; and ii) RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook is stable.The upgrade of TNB's rating reflects MARC's revised as...

MARC has affirmed its rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AA+ID with a stable outlook. The rating has been affirmed despite KEV's weak liquidity and second consecutive year of losses on MARC's expectation of ongoing support from Tenaga Nasional Berhad (TNB), KEV's ultimate holding company. MARC notes th...