MARC has downgraded its ratings on Tanjung Langsat Port Sdn Bhd’s (TLP) RM250.0 million Sukuk Musyarakah Bonds and RM135.0 million Musyarakah Commercial Papers/Musyarakah Medium  Term  Notes  Programme  (MCP/MMTN)  to  BBB+IS  and MARC-3ID /BBB+ID  from  A-IS  and MARC-2ID /A-ID respectively. The outlook on the ratings remains negative. The r...

MARC has affirmed its AAAIS(fg) rating on Senari Synergy Sdn Bhd’s (Senari Synergy) RM380 million Islamic Medium Term Notes (IMTN) Programme. The outlook on the rating is stable. The affirmed rating and outlook reflect an unconditional and irrevocable guarantee provided by Danajamin Nasional Berhad (Danajamin) on the sukuk obligations. MARC’s current AAA/stable rating for Danajamin is ...

MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes Programme rating at AAIS. The rating outlook is stable. The affirmed rating reflects the adequacy of cash flows from the three identified payment sources for the sukuk: APSB’s rental income from its two office buildings and assigned cash flows from sister companies, Alloy Toll Managemen...

MARC has affirmed its rating on ANIH Berhad's (ANIH) RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) at AAIS with a stable outlook.The affirmed rating reflects consistent traffic growth for ANIH’s portfolio of mostly matured toll concessions, namely the Kuala Lumpur-Karak Highway (KL-Karak), Phase 1 of the East Coast Expressway (ECE1) and the Kuala Lumpur-Seremban Expresswa...

MARC has affirmed its AA-ID rating on Maju Expressway Sdn Bhd’s (MESB) RM550.0 million Islamic Medium Term Notes (IMTN) Programme. The rating outlook is stable. MESB is the owner and concession holder of the Maju Expressway (MEX), a 26-kilometre open toll urban highway which connects Kuala Lumpur city centre with Putrajaya and Cyberjaya. The rating is supported by strong traffic growth since...

MARC has assigned a rating of AA-IS to Kimanis Power Sdn Bhd’s (Kimanis) RM1.16 billion Sukuk Programme. The outlook on the rating is stable. Kimanis is a 60:40 joint venture between PETRONAS Gas Berhad and Sabah state-owned entity NRG Consortium (Sabah) Sdn Bhd (NRG). NRG is an indirect wholly-owned subsidiary of Sabah state’s investment arm Yayasan Sabah Group (YSG).Kimanis will issu...

MARC has affirmed the ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM350.0 million guaranteed notes and RM360.0 million non-guaranteed notes issued under its RM710 million nominal value Islamic Medium Term Notes (IMTN) Programme at AAAIS(fg) and AAIS respectively. The outlook for both ratings is stable.The affirmed rating and stable outlook on the guaranteed notes reflect the credit strength...

MARC has affirmed its rating of AAAIS(bg) and AAAIS(fg) on Ranhill Power Sdn Bhd’s (Ranhill Power) RM300 million bank guaranteed (Tranche 1) and RM500 million Danajamin Nasional Bhd (Danajamin) guaranteed (Tranche 2) Sukuk Musharakah facility respectively. The outlook for both ratings is maintained at stable.The rating on Tranche 1 reflects the credit strength of an unconditional and irrevoc...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and the utility's Islamic debt ratings at AAAID for the following outstanding issues: i) RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility; and ii) RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook is stable. The affirmed ratings continue to incorporate support uplift for TNB's obligations, deriv...

MARC has affirmed its rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AA+ID with a stable outlook. The affirmed rating takes into account the recent improvement in KEV’s operating and financial performance, as well as the rating agency’s expectation of a very high probability of parental support from Te...