MARC has assigned long-term ratings of AAA, AA and A to Kinabalu Capital Sdn Bhd’s (Kinabalu Capital) issue of RM220 million Class A, RM40 million Class B and RM20 million Class C medium- term notes (MTN) respectively. Concurrently, the rating agency has assigned a MARC-1 rating to Kinabalu Capital’s issue of up to RM280 million commercial papers (CP). The rated MTN and/or CP issuance are sub...

MARC has affirmed its rating of AAAIS(fg) on Symphony Life Berhad’s (Symphony Life) Guaranteed Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are based on the unconditional and irrevocable financial guarantee insurance provided by Danajamin Nasional Berhad (Danajamin). MARC has an insurer financial strength rating of AAA/stable and long-term/sh...

MARC has affirmed the ratings on Sunway Berhad’s (Sunway) RM2.0 billion 7-year (2013-2020) CP/MTN programme at MARC-1 / AA-. Concurrently, MARC has affirmed the ratings of the RM2.0 billion 7-year (2015-2022) ICP/IMTN sukuk programme issued by Sunway Treasury Sukuk Sdn Bhd (STSSB) at MARC-1IS(cg) /AA-IS(cg). STSSB is a special purpose funding vehicle which is wholly-owned by Sunway, where its s...

MARC has affirmed its rating of AA- with a stable outlook on Central Impression Sdn Bhd’s (CISB) 11-year Fixed Rate Serial Bonds of RM120.0 million. The affirmed rating reflects the credit strength of AEON Co. (M) Berhad (AEON) as the principal lessee of the AEON Klebang shopping mall which is owned and was developed by CISB from the bond proceeds. The fixed lease rental payments from AEON...

MARC has affirmed its AAAIS rating on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. The rating reflects the credit strength of the Malaysian government as the sole paymaster of the sublease rental payments that are sufficient to meet the principal and profit payments under the IMTN programme. Ama...

MARC has affirmed the long-term ratings on Special Coral Sdn Bhd’s (Special Coral) RM300.0 million Senior Class and RM800.0 million Subordinated Class Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The outlook on the ratings is stable. The list of ratings is shown in the table below.   Tranche size Issued amount Ratin...

MARC has assigned ratings of MARC-1IS /AA-IS on property developer UEM Sunrise Berhad’s (UEM Sunrise) proposed RM2.0 billion Islamic Commercial Papers Programme and Islamic Medium-Term Notes Programme (ICP/IMTN-2) with a sub-limit of RM500 million for the ICP programme. Concurrently, the rating agency has affirmed its MARC-1IS /AA-IS ratings on UEM Sunrise’s existing RM2.0 billion Islamic ...

MARC has affirmed its rating of AA-ID on Sunrise Berhad’s (Sunrise) RM400 million Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The rating affects the outstanding RM100.0 million IMTNs issued under the programme. The rating reflects the equalisation of Sunrise’s rating to its parent UEM Sunrise Berhad’s (UEM Sunrise) rating of AA-/Stable. MARC’s approach takes int...

MARC has affirmed its ratings of MARC-1/AA on Murud Capital Sdn Bhd’s (Murud Capital) Senior Commercial Papers/Medium-Term Notes Programme (Senior CP/MTN Programme) of up to RM290 million. The outlook on the ratings is stable. Murud Capital currently has an outstanding RM279 million Senior CP under the Senior CP/MTN Programme while there are no outstanding issuances under the unrated Junior CP/...

MARC has affirmed its ratings on special purpose company Inverfin Sdn Bhd’s (Inverfin) Tranche A notes and Tranche B notes at AAA and AA respectively with a stable outlook. Inverfin currently has outstanding RM160 million Tranche A notes while Tranche B notes have not been issued as at date. The notes are secured by a first legal charge over Inverfin’s 50-storey Menara Citibank building ...