MARC has assigned ratings of AAAIS , AAIS and AAAIS(bg) to ABS Logistics Berhad (ALB)’s Class A, Class B and Class C Senior Sukuk respectively. The ratings of Class A and B Senior Sukuk reflect the quality of the collateral comprising of 23 warehouses, protective structural features of the transaction, and relatively low actual loan-to-values (LTVs) for each of Class A and Class B Senior ...

MARC has downgraded the rating of Mithril Berhad’s (“Mithril”) RM59 million Redeemable Convertible Secured Loan Stocks (“RCSLS”) from BBB to BBB- with a negative outlook based on continued deterioration in the company’s financial profile, its weak operating outlook for 2007 and uncertainties about the future operating performance of new ventures. Mithril ma...

MARC has reaffirmed the ratings of Ample Zone Berhad’s Sukuk Al-Ijarah (Sukuk) Class A of RM50 million and Class B of RM25 million at AA+ID and AID respectively. However, the RM75.0 million Class C Sukuk has been downgraded to BB-ID from BBID. The ratings of Class A and Class B Sukuk reflects the collateral backing the Sukuk; loan-to-values (LTV) which were within MARC’s acceptable ...

MARC has reaffirmed MHS Aviation Berhad’s (MHSA) A+ID rating on its RM140 million Junior Notes Issue (JNs) reflecting its dominant position as provider of contracted helicopter air transportation services to major oil and gas (O&G) companies including Exxon Mobil Exploration & Production Malaysia Inc (EMEPMI), Sarawak Shell Sdn Bhd and PETRONAS Carigali Sdn. Bhd. (PCSB). MARC dra...

MARC has affirmed the ratings of Hong Leong Financial Group Berhad’s (HLFG) RM300 million commercial papers and medium term notes (CP/MTN) facilities at A+/MARC-1 with a positive outlook. The ratings encompass the shared credit profile of HLFG’s operating subsidiaries, established banking and insurance franchises of core subsidiaries, as well as the sound capital position of the comp...

MARC has assigned ratings of AAA(bg)/MARC-1(bg) and AA+(bg)/MARC-1(bg) to Legolas Capital Sdn Bhd’s (LCSB) RM105 million nominal value CP/MTNs and RM110 million nominal value CP/MTNs, respectively, underpinned by the irrevocable guarantees provided by Malayan Banking Berhad (Maybank) and United Overseas Bank (Malaysia) Bhd (UOBM) respectively. LCSB is a special purpose vehicle which is an ...

MARC has reaffirmed the long and short term ratings of AA-ID and MARC-1ID respectively with a stable outlook for Top Glove Corporation Bhd’s (Top Glove) Islamic Medium Term Notes (IMTN) Programme of up to nominal value RM100 million and Islamic Commercial Papers (ICP)Programme of up to nominal value RM100 million based on its scale of business as the largest glove maker in the world and i...

MARC has downgraded the short term rating of Pembinaan Mitrajaya Sdn Bhd’s (PMSB) RM50 million Murabahah Multi-Option Notes Issuance (MONI) Facility from MARC-2ID to MARC-3ID. The downgrade reflects rating concerns arising from developments with respect to ABRAR Discounts Berhad, the principal underwriter of the MONI facility. Rating concerns primarily include increased refinancing risk as a...

MARC has assigned respective short- and long-term ratings of MARC-1ID and AID with stable outlook to Tomei Consolidated Berhad’s (TCB) RM 100.0 million Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Programme. The ratings reflect the Group’s well-established jewellery franchises, its competitive edge over non-integrated players as an integrated manufacturer and retailer of je...

MARC has assigned a short term rating of MARC-1ID to Straight A’s Portfolio Sdn Bhd’s (“SAP”) RM200 Million Murabahah Underwritten Notes Issuance Facility (“MUNIF”) with stable outlook. SAP is a special purpose vehicle (“SPV”) company formed by Oil-Line Engineering & Associates Sdn Bhd (“OLEA”) incorporated for the purpose of securiti...