MARC has affirmed its AAAID /MARC-1ID and AAAIS ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances as follows:- RM570 million Bai Bithaman Ajil (BBA) Bonds Issuance Facility (due 2013) RM850 million BBA Bonds Issuance Facility (due 2013) RM850 million BBA Serial Bonds Issuance Facility (due 2015) RM1.5 billion Murabahah Notes Issuance (MUNIF) Facility (due 2015)RM2.2 billio...

MARC has affirmed its ratings of MARC-1/AAA, MARC-1/AA and MARC-1/A on Gandalf Capital Sdn Bhd’s (Gandalf Capital) RM118 million Commercial Papers/Medium Term Notes Programme comprising RM87 million Class A, RM16 million Class B  and RM15 million  Class C notes respectively with a stable outlook. Wholly-owned by Quill Capita Trust (Quill Trust), Gandalf Capital is a special purpose...

MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Bonds of RM500 million. The rating reflects SBI’s very high systemic importance as the largest bank in India, its robust market franchise, stable income generation and strong liquidity position. The rating also incorporates SBI’s ownership structure and the likelihood of external support from its maj...

MARC has assigned ratings of A+IS and A-IS to Senai-Desaru Expressway Berhad's (SDEB)  RM1.89 billion nominal value Senior Sukuk Ijarah Medium Term Notes (Senior Sukuk) Programme and RM3.69 billion nominal value Junior Sukuk Ijarah Medium Term Notes (Junior Sukuk) Programme respectively. Proceeds from the issuance are to primarily refinance existing debt of SDEB. The ratings outlook is stable...

MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) RM425 million Istisna’ Serial Bonds with a stable outlook. The affirmed rating is primarily underpinned by MARC’s AAA/stable public information rating on Sarawak state based on the state’s strong fiscal performance, low debt burden and fairly strong financial manageme...

MARC has affirmed its MARC-2ID/AID ratings on EP Manufacturing Berhad's (EPMB) RM150.0 million Murabahah Notes Issuance/Islamic Medium Term Notes (MUNIF/IMTN) facilities and RM120.0 million MUNIF/IMTN facilities. At the same time, the outlook on the ratings has been revised to stable from negative. The rating action affects RM8.0 million of outstanding notes issued under the RM150.0 million MUNIF/...

MARC has affirmed the AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating is aligned to MARC’s recently affirmed AAA/stable public information rating on the state of Sarawak. The BaIDS are rated at the same level as the Sarawak State Government (SSG) based on very high government...

 MARC has affirmed its MARC-1/AAA and MARC-1/AA ratings of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes and RM40.0 million Class B Notes respectively under a RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The ratings are supported by the quality and strategic location of the collateral property, low loan-to-value ratios (LTV) for the respective no...

MARC has affirmed Radicare (M) Sdn Bhd’s (Radicare) ratings on its RM100 million Commercial Papers/Medium Term Notes (CP/MTN) and RM50 million Medium Term Notes (MTN) facilities at MARC-1/A+ and A+ respectively. The rating outlook has been revised to developing from stable to reflect the near-term expiry of Radicare’s 15-year concession agreement in October 2011. The extension of the c...

MARC has affirmed its AA-IS rating on MNRB Holdings Berhad's (MNRB) RM200 million Islamic Medium Term Notes (IMTN) with a negative outlook. The negative outlook reflects MNRB's weak company-level cash flow coverages and liquidity in addition to the high level of double leverage at the investment holding company level. Dividends received to interest paid coverage at the holding company declined bel...