MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad's (IJM) RM1,000 million Commercial Paper/Medium Term Notes Programme with a stable outlook based on IJM's relatively resilient consolidated performance in a challenging economic environment and the rating agency's expectation that industry conditions and operating results will support improvements in IJM's current financial risk pr...

MARC has affirmed the ratings of MARC-1(bg) / AAA(bg) on Tranche A of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper/Medium Term Notes (CP/MTN) Programme and MARC-1(bg) / AA+(bg) on Tranche B RM110.0 million CP/MTN Programme. The ratings carry a stable outlook. Legolas is a special purpose issuing vehicle established for the sole purpose of raising funds for the develop...

MARC has affirmed its MARC-1IS /AA-IS ratings on TSH Sukuk Ijarah Sdn Bhd's (TSH Sukuk) RM400 million Sukuk Ijarah Commercial Paper (ICP)/Sukuk Ijarah Medium Term Notes (IMTN) programme and revised the outlook on the ratings to stable from developing.TSH Sukuk is a special purpose funding vehicle created to facilitate the issuance of the notes under the rated programme on behalf of plantation-base...

MARC has assigned a rating of AA- to WCT Berhad’s (WCT) RM600 million serial fixed rate bonds with 193.7 million detachable warrants. The outlook for the rating is stable. The proceeds from the issue will be used to fund the repayment of its upcoming debt maturities totalling RM350 million in FY2011 and FY2012 as well as working capital requirements of the group. The assigned rating incorpor...

MARC has affirmed its ratings of B and B- on Talam Corporation Berhad's (Talam) RM356.25 million Redeemable Convertible Secured Loan Stocks (RCSLS) and RM257.40 million Redeemable Convertible Preference Shares (RCPS) respectively. The outlook on the ratings has been revised to negative from stable. MARC is also withdrawing both ratings with immediate effect at the request of the issuer and will no...

MARC has upgraded Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes (MTN) rating to A+ from A. The outlook on the rating is stable. The rating upgrade reflects the company’s strong recurring earnings generation and profitability, supported by its defensible business position as Malaysia’s only fully-integrated offshore pedestal crane service provider and ...

MARC has lowered its debt rating on Petra Perdana Berhad's (Petra Perdana) RM800 million Dual Currency Revolving Facility to A- from A+ and removed the rating from MARCWatch Negative. The rating action affects RM175 million of outstanding secured serial bonds and RM25 million of medium-term notes issued under the facility. The downgrade reflects declining revenues, negative cash flows, a heavy deb...

MARC has placed Maxtral Industry Berhad's (Maxtral) following Islamic debt ratings on MARCWatch Negative:1) The AID rating on its RM80.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) facility; and2) The MARC-2ID/AID ratings on its RM20.0 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities.The rating action refl...

MARC has affirmed its ratings of MARC-2/A+ on retailer Asia Brands Corporation Berhad’s (Asia Brands) RM70 million Commercial Papers/Medium Term Notes (CP/MTN Programme) with a stable outlook. Concurrently, MARC is withdrawing its rating on the facility following the full redemption of outstanding debt and cancellation of the CP/MTN Programme facility. The ratings and outlook are underpinned...

MARC has affirmed its AAAID/MARC-1ID and MARC-1ID ratings on conglomerate Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Note Programme (IMTN Programme) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes Programme (ICP/IMTN Programme) with a combined limit of RM4.5 billion, and RM150 million Underwritten Murabahah Commercial Papers (MCP) Facility respec...