MARC has affirmed the ratings on special purpose company Inverfin Sdn Bhd’s (Inverfin) RM200 million Medium-Term Notes (MTN) Programme comprising RM185 million of Tranche A notes and RM15 million of Tranche B notes at AAA and AA respectively. The outlook on the ratings is stable. The lower rating on the Tranche B notes reflects its subordination to Tranche A notes in respect of payment prio...

MARC has assigned ratings of MARC-1/AA to Murud Capital Sdn Bhd’s (Murud Capital) Senior Commercial Papers/Medium Term Notes (CP/MTN) Programme of up to RM290 million. The outlook on the ratings is stable. The Senior CP/MTN Programme will be established alongside an unrated subordinated Junior CP/MTN Programme of up to RM450 million. The combined limit of both the Senior and Junior CP/MTN Progr...

MARC has affirmed its MARC-1IS /AA-IS  ratings on property developer UEM Sunrise Berhad’s (UEM Sunrise) Islamic Commercial Paper (ICP) Programme and Islamic Medium- Term Notes (IMTN) Programme with a combined nominal value of RM2.0 billion and a sub-limit of RM500.0 million on the ICP Programme. The outlook on the ratings is stable. UEM Sunrise’s long-term rating benefits from a ...

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. Sunrise’s rating is equalised to that of its parent, UEM Sunrise Berhad (UEM Sunrise), premised on MARC’s assessment of Sunrise’s position as a core subsidiary of UEM Sunrise. This is evidenced by the high degree of operational...

MARC has affirmed its ratings of AAAID(bg) on Horizon Hills Development Sdn Bhd’s (Horizon Hills) Islamic Bank-Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200 million with a stable outlook. The affirmed rating on the IMTN Programme reflects the credit quality of the unconditional and irrevocable guarantee provided by Public Bank Berhad (PBB) on which MARC has a public informati...

MARC has affirmed its rating of AAA(fg) on special purpose vehicle Segi Astana Sdn Bhd's (Segi Astana) RM470.0 million Medium-Term Notes (MTN) programme with a stable outlook. The rating reflects the credit strength of the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad which carries MARC’s financial strength rating of AAA/Stable.Segi Astana’s sole deve...

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 action affects RM6,610.0 million IMTNs in six series issued by Aman under the programme as at November 25, 2014.The affirmed rating is premised on the assured and sufficient sublease rental payments from...

Rationale   MARC has assigned a rating of AA- with a stable outlook to Central Impression Sdn Bhd’s (CISB) proposed 11-year Fixed Rate Serial Bonds of up to RM120.0 million. The issuer is a single-purpose company which was established to own and develop AEON Klebang, a three-storey shopping mall in Ipoh, Perak. The proceeds from the bond issuance will be used to part finance the ma...

MARC has affirmed its rating of AAAIS(fg) on Symphony Life Berhad’s (Symphony Life) RM230 million seven-year Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The affirmed rating and outlook are based on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s financial strength rating of AAA/stable.M...

MARC has affirmed its AAAIS and AAAID ratings with a stable outlook on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt programmes as follows:-RM3.0 billion Sukuk Musharakah Programme (due 2032);RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033); andRM2.2 billion Murabahah Medium-Term Notes (MMTN) Programme (due 2021).The ratings are based on PJH’s healthy financial and...