MARC has lowered its rating on Prima Uno Berhad’s (Prima Uno) RM335 million Super Senior B, RM190 million Senior and RM40 million Mezzanine bonds to AA+, BB and C from AAA, A- and B respectively. At the same time, the AAA rating on the RM290 million Super Senior A and the C rating on the RM95 million Subordinated bonds are affirmed. The rating outlook on Super Senior A, Super Senior B and Se...

MARC has affirmed the ratings of special purpose company Serrisa Sinar Berhad’s (Serrisa Sinar) RM200 million ICP/IMTN notes (Senior Notes) and RM20 million Junior IMTN (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The rating outlook is stable. The affirmed ratings reflect the credit quality of the rental payment stream from creditworthy telecommunication companies as the source of...

MARC has affirmed its AA+IS(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) issuance of up to RM500 million in nominal value. The rating reflects the strength of the unconditional and irrevocable bank guarantee of up to RM420 million by Kuwait Finance House (Malaysia) Berhad (KFHMB). MARC has recently affirmed KFHMB’s long-term financial ...

MARC has assigned its MARC-1ID and AAAID ratings to Cagamas Berhad’s (Cagamas) new Islamic Commercial Papers Programme (CP) and Islamic Medium Term Notes Programme (MTN) with a combined aggregate limit of RM5.0 billion in nominal value. The outlook on the ratings is stable. Concurrently, MARC has affirmed its MARC-1/MARC-1ID and AAA/AAAID ratings on Cagamas’ existing RM20.0 billion Con...

MARC has affirmed its rating on Sunrise Berhad’s RM400.0 million Islamic Medium Term Notes (IMTN) facility at A+ID. The rating outlook is maintained at stable. The affirmed rating reflects Sunrise’s sustained financial performance supported by strong operating margins, large future expected billings from contracted sales (unbilled sales), fairly sizeable land bank to sustain developmen...

MARC has affirmed the rating of Antara Steel Mills Sdn Bhd’s (Antara) RM500 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AID. The rating outlook is revised to positive from stable. The affirmed rating and outlook revision incorporates Antara’s overall operating profile and recent financial performance which have supported improvements in its liquidity and debt se...

MARC has assigned the ratings of MARC-1IS(fg) /AAAIS(fg) to LBS Bina Group Bhd’s (LBS-GB, or the Group) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN, or Sukuk) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable Kafalah Guarantee provided by Danajamin Nasional Berhad (Danajamin) in...

MARC has removed KMCOB Capital Berhad’s (KMCOB) RM630 million Murabahah Medium Term Notes (MTNs) from MARCWatch Developing.  At the same time, MARC has affirmed its AA-ID(CG) debt rating on KMCOB with a Stable outlook following the recent completion of Scomi Oilfield Limited’s (SOL) debt rationalisation exercise. KMCOB Capital is a funding vehicle for SOL, and the MTNs are ultimat...

MARC has affirmed its financial institution rating on Bank Pembangunan Malaysia Berhad (BPMB) at AAA with a stable outlook. The rating reflects BPMB’s status as a wholly government-owned development financial institution (DFI), held through the Minister of Finance Incorporated (99.99%) and the Federal Lands Commissioner (0.01%). The rating also considers BPMB’s long track record of man...

MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to property developer Syarikat Kapasi Sdn Bhd’s (SKSB) RM200 million Commercial Papers/Medium Term Notes (CP/MTN) Programme. The ratings carry a stable outlook. The assigned ratings and outlook are underpinned by the unconditional and irrevocable financial guarantee insurance policy provided by Danajamin Nasional Berhad (Danajamin) in relat...