MARC has affirmed Kuwait Finance House (Malaysia) Berhad’s (KFHMB) long-term and short-term financial institution ratings at AA+/MARC-1. KFHMB’s ratings are based on MARC’s top-down approach in its assessment of KFHMB’s linkage with its parent, Kuwait Finance House K.S.C. (KFH) and the affirmation of KFH’s financial institution ratings at AAA/MARC-1. KFH’s ratin...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds) and the AAA(s) rating on its 13-year bonds with a nominal value of up to RM1,315 million. The ratings carry a stable outlook.The affirmed ratings and the stable ratings outlook reflect the credit strength of Petroliam...

MARC has assigned the ratings of AAAID and MARC-1ID / AAAID to Sime Darby Berhad’s (Sime Darby) new Islamic debt programmes comprising RM4.5 billion Islamic Medium Term Notes (IMTN) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) respectively with a combined limit of RM4.5 billion. The outlook on the ratings is stable. Additionally, MARC has affirmed its MARC...

MARC has upgraded Glomac Berhad’s (Glomac) long-term rating to AID from A-ID and concurrently affirmed the short-term rating at MARC-2ID under the RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The upgrade reflects Glomac’s improved financial leverage and the turnaround in Glomac’s cash flow generation,...

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). CMBS 2005-2 comprises seven tranches with maturities on the third, fifth, seventh, tenth, twelfth, fifteenth and twentieth anniversary from the issuance date of December 12, 2005. To date, Cagamas MBS has launched five residential mortgage backed sec...

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 rating carries a stable outlook. CMBS 2004-1 is the first residential mortgage-backed securitisation issuance by Cagamas MBS and comprises four tranches with maturities on the third, fifth, seventh, tenth anniversary from the issuance date of Oct...

MARC has affirmed its AA+ rating on State Bank of India’s (SBI) Senior Unsecured Malaysian Ringgit (MYR) Bonds (2008/2013) of MYR500 million. The rating reflects SBI’s systemically important position as the largest bank in India, its strong market franchise, resilient core earnings and good liquidity position. The rating also takes into account the bank’s ownership structure and ...

MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) RM425 million Istisna’ Serial Bonds. The outlook for the rating is stable. The affirmed rating is premised on MARC’s AAA rating on Sarawak state which, through its State Financial Secretary Inc. (SFS), had executed a redeemable preference share (RPS) subscription agreement ...

MARC has affirmed its rating on Woori Bank’s (Woori Bank) RM1.0 billion Medium Term Notes Programme (MTN) at AAA. The rating is premised on the bank’s strong position in its local South Korean market supported by an extensive customer reach, adequate capitalisation with good quality tier-1 capital, and access to government liquidity support via its holding company, government-owned Kor...

MARC has affirmed Radicare (M) Sdn Bhd’s (Radicare) ratings on its RM100.0 million Commercial Papers/Medium Term Notes (CP/MTN) and RM50.0 million Medium Term Notes (MTN) facilities at MARC-1/A+ and A+, respectively. The ratings outlook is stable. The affirmed ratings continue to reflect the group’s sustainable operating performance and debt servicing ability under a 15-year concession...