Major Rating FactorsStrengths Strong competitive position lends resilience to Westports’ financial performanceSolid operating track recordAmple internal liquidity as well as access to external sources of liquidityImproving cash flow protection measuresChallenges/Risks  Operating in a highly competitive industryHigh capital intensity of port businessMARC has reaffirmed the rati...

MARC has affirmed the rating of A+ with stable outlook to Petra Perdana Berhad’s (Petra) issuance of up to equivalent RM800 million Dual Currency Revolving Financing Facility comprising RM400 million Nominal Value Secured Serial Bonds (“Bonds”) under Tranche 1 and up to RM400 million Dual Currency Revolving Financing Facility under Tranche 2. The rating reflects the Group’s...

Strengths Stable earnings performance from timber product sales over the past 5 yearsHighly integrated operations and a production capacity which places it among the top five manufacturers of processed wood products in Sabah  Diversified range of products and customer baseChallenges/RisksUncertainties posed by its maiden venture into property development activitiesSufficiency of log supply fr...

MARC has assigned ratings of MARC-1/A+ to the first issuance of up to RM200.0 million under RUN Holding SPV Bhd’s (RHSB) proposed RM500.0 million commercial papers (CPs) and medium term notes (MTN) programme (collectively referred to as “the Notes”). The ratings on the Notes reflect the credit quality of the underlying securities, Puncak Niaga Holdings Bhd’s (PNHB) Redeemab...

The financial strength rating of Credit Guarantee Corporation Malaysia Berhad (CGC) is underpinned by the institution’s healthy financial fundamentals, its sound credit culture and adequate risk governance procedures. While CGC's loan guarantee schemes portfolio intrinsically involves higher credit risks, this has been effectively managed and mitigated. CGC’s liquidity and capital are ...

MARC has reaffirmed the rating of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds at AAA; affirmed the RM30.0 million mezzanine secured bonds at AA- and downgraded the rating of the RM100.0 million subordinated secured bonds to B from BB- respectively. The lowered rating on the subordinated bonds reflects a new obligor default and further deterioration in the collateral pool sin...

MARC has reaffirmed the rating of Kerisma Bhd’s (Kerisma) RM870.0 million senior secured bonds at AAA; affirmed the RM30.0 million mezzanine secured bonds at AA- and downgraded the rating of the RM100.0 million subordinated secured bonds to B from BB- respectively. The lowered rating on the subordinated bonds reflects a new obligor default and further deterioration in the collateral pool sin...

MARC has affirmed the ratings of MARC-1ID /AAID on Cellular Structures Sdn. Bhd. (CSSB) RM184.0 million Senior MUNIF/IMTN (Senior Notes) under its RM192 million MUNIF/IMTN Facility (Facility). The ratings reflect the credit quality of the rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID /AAID.  The payment stream is backed by a licen...

MARC has affirmed the ratings of MARC-1 ID/AA ID to Tele-Flow Capital Sdn. Bhd.’s (Tele-Flow Capital) Senior Notes under its RM90.0 million MUNIF/IMTN Facility.  The ratings reflect the credit quality of a rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID/AAID. The payment stream is backed by a licensing agreement that obligates...

MARC has revised its outlook on PECD Berhad’s (PECD) RM200 million serial fixed rate bonds to Negative from Developing following PECD’s announcement to Bursa Malaysia on 6 July 2007 that its wholly owned subsidiary, Peremba Construction Sdn Bhd (PCSB) had been served notices of termination of employment for contracts under its Oceana Development, Palm Jumeirah Project in Dubai, United ...