MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM2,060.0 million (CMBS 2005-2) with a stable outlook. CMBS 2005-2 represents the third residential mortgage-backed securitisation issuance by Cagamas MBS. The affirmed rating reflects an increase in the transaction’s credit enhancement levels due to loan payoffs and amortisat...

MARC has affirmed the AAAID rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed Sukuk Musyarakah issuance (CMBS 2005-1) of RM2,050.0 million with a stable outlook. CMBS 2005-1 represents the second residential mortgage-backed securitisation issuance by Cagamas MBS. The affirmed rating reflects an increase in the transaction’s credit enhancement levels due to loan payoffs and amor...

MARC has affirmed the AAAIS rating of Cagamas MBS Berhad’s (Cagamas MBS) RM2,110.0 million mortgage-backed Sukuk Musyarakah issuance (CMBS 2007-1-i) with a stable outlook. CMBS 2007-1-i represents the fourth residential mortgage-backed securitisation issuance by Cagamas MBS. The affirmed rating reflects an increase in the transaction’s credit enhancement levels due to loan payoffs and ...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds (CMBS 2007-2) of RM2,410.0 million with a stable outlook. CMBS 2007-2 represents the fifth residential mortgage-backed securitisation issuance by Cagamas MBS. The affirmed rating reflects an increase in the transaction’s credit enhancement levels due to loan payoffs and amortisat...

MARC has affirmed the AAA rating of Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM1,555.0 million (CMBS 2004-1). The affirmed rating reflects an increase in the transaction’s credit enhancement levels due to loan payoffs and amortisation in addition to the satisfactory performance of the securitised mortgage portfolio to date with regard to its stable del...

MARC has affirmed its AAAIS rating on the outstanding RM80 million of Sukuk issued under IJN Capital Sdn Bhd's (IJN Capital) RM209 million Sukuk Musyarakah Programme. The outlook is stable. IJN Capital is a special purpose funding entity wholly-owned by IJN Holdings Sdn Bhd (IJN Holdings). The rating on the Sukuk, which will be maturing in 2011 through 2013, incorporates a single notch uplift from...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds (serial bonds) and the AAA(s) rating on its 13-year bonds (conventional bonds). The ratings carry a stable outlook. Midciti is the owner of the PETRONAS Twin Towers which houses the corporate headquarters of Petroliam Nasional Bhd (PETRONAS). The affirmed ratings primarily refl...

MARC has affirmed its ratings on Goodway Integrated Industries Bhd’s (Goodway) RM80.0 million Murabahah Notes Issuance Facility/Islamic Medium Term  Notes (MUNIF/IMTN) at MARC-2ID/AID. The rating outlook has been revised to stable from negative. The outlook revision takes into consideration the group’s demonstrated efforts to reduce its gearing levels to below the covenanted level...

MARC has affirmed the ratings of AAA and AAAID assigned to 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 ratings reflect KEXIM’s public policy role in supporting the Republic of Korea’s (Korea) export and import industries, strong standalone financial profile and its full governm...

MARC has affirmed its rating on Woori Bank’s RM1.0 billion Medium Term Notes Programme (MTN) at AAA, premised on the bank’s strong and established business franchise in the Republic of Korea (Korea), adequate capitalisation and access to government liquidity support via its government-owned holding company Korea Deposit Insurance Corporation (KDIC). While the rating also takes into con...