MARC has downgraded the rating of Mithril Bhd’s (Mithril) RM59 million Redeemable Convertible Secured Loan Stocks (RCSLS) from BBB- to BB on account of the company’s continuing dismal financial performance, its failure to recommence its brick-manufacturing operation after a fire incident, and its tight working capital position which severely constrained its yacht fabrication operation ...

MARC has affirmed its AAID long-term rating on MTD InfraPerdana Bhd’s (MTD InfraPerdana) RM700.0 million Islamic Medium Term Notes (IMTN) programme. The rating reflects MTD InfraPerdana's strong operating profitability, underscored by the sustained traffic flows on the established and matured toll highways operated by wholly-owned subsidiaries, MTD Prime Sdn Bhd (MTD Prime) and Metramac Corp...

MARC has revised its rating outlook on MITP’s BAIS facility of up to RM240.0 million to developing from stable. Concurrently, MARC has affirmed its rating of A+ID on MITP's BAIS. The outlook revision follows an estimated six-month delay in the completion of major construction works at the tuna port following a stop-work order issued by the DOE which has yet to be lifted. This negative develo...

MARC has assigned ratings of A+IS for Dawama Sdn Bhd’s (Dawama) Senior Sukuk Musyarakah of RM120.0 million and AIS for Dawama’s Junior Sukuk Musyarakah of RM20.0 million. The one-notch difference in ratings reflects the Senior Sukuk’s priority of repayment and redemption over the Junior Sukuk. The rating carries a stable outlook. The proceeds of the Sukuk will be used to redeem D...

MARC has affirmed the ratings of MARC-1(bg)/AAA(bg) on Tranche A and MARC-1(bg)/AA+(bg) on Tranche B of Legolas Capital Sdn Bhd’s (Legolas) RM105.0 million Commercial Paper / Medium Term Notes (CP/MTN) Programme and RM110.0 million CP/MTN respectively. The ratings reflect the irrevocable guarantees provided by Maybank for Tranche A and UOBM for Tranche B respectively. Maybank’s financi...

MARC has upgraded the rating of Ample Zone Berhad’s Sukuk Al-Ijarah (Sukuk) Class B of RM13.3 million from AIS to AA+IS and affirmed the rating of the RM75.0 million Class C Sukuk at BB-IS. The rating upgrade of Class B Sukuk reflects improvement in collateral value backing the Sukuk following the recent full redemption of Class A Sukuk as reflected in a significantly lower loan-to-value (LT...

MARC has affirmed its MARC-1ID /AID ratings on jeweller Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/ Medium Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The ratings reflect the strength of Tomei’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by a contraction in consumer de...

MARC has affirmed the ratings of AA-ID and MARC-1ID  for Top Glove Corporation Bhd’s (Top Glove) RM100 million Islamic Medium Term Notes (IMTN) Programme and RM100 million Islamic Commercial Papers (ICP) Programme. The rating outlook is stable. The ratings are premised on Top Glove’s dominant position in the global arena and a strong financial profile. These rating positives are t...

MARC has affirmed Prima Uno Berhad’s (Prima Uno) AAA-rated RM290.0 million Super Senior A, AAA-rated RM335.0 million Super Senior B, AAA-rated RM190.0 million Senior and AA-rated RM40.0 million Mezzanine secured bonds as well as BB-rated RM95.0 million subordinated secured bonds. The affirmed ratings reflect the satisfactory performance of the collateral pool as indicated by stable portfolio...

MARC has upgraded its long-term Financial Institution rating of CIMB Bank Berhad (CIMB Bank) to AA+ from AA and its RM667 million Irredeemable Convertible Unsecured Loan Stocks’ (ICULS) rating to AA from AA-. The upgrade reflects MARC’s expectation of continued improvement in CIMB Bank’s competitive position following the successful integration of CIMB Bank and Southern Bank Berh...