MARC has affirmed its AAAID rating on MISC Berhad's RM2.5 billion Islamic Medium-Term Notes (IMTN) programme. The outlook on the rating is stable. The rating incorporates a three-notch rating uplift from MISC’s standalone rating based on MARC’s assessment of very strong parental support from Petroliam Nasional Berhad (PETRONAS) which carries a AAA/stable rating from the rating agency. The sup...

MARC has affirmed its AAA(bg) rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank-Guaranteed Medium-Term Notes (BG MTN) programme with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of East As...

MARC has affirmed its ratings of AA-IS and AIS on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion respectively. The ratings outlook has been revised to negative from stable. The outlook revision is mainly driven by the impact of the challenges in the domestic a...

MARC has affirmed the ratings of AA-IS and AIS on Alpha Circle Sdn Bhd’s (Alpha Circle) RM540 million Senior Sukuk Musharakah (Senior Sukuk) and RM55 million Junior Sukuk Musharakah (Junior Sukuk) with a stable outlook. The two-notch rating differential between the Senior Sukuk and the Junior Sukuk reflects the latter’s subordinated ranking in priority of payment and security. The affirm...

MARC has downgraded the long-term ratings on Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Medium-Term Notes Programmes to AA-(cg) and AA-ID(cg) from AA(cg) and AAID(cg) respectively. Concurrently, the short-term rating on the Conventional Commercial Papers Programme has been maintained at MARC-1(cg). The outlook on all ratings remains negative. ...

MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320 million with a stable outlook. The rating and outlook are premised on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA/stable. KMCOB is the funding vehicle of its...

MARC has affirmed its AAA(bg) and AAA(fg) ratings on Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million 7-year bank-guaranteed Medium-Term Notes (MTN) Programme (Tranche 1) and RM300 million 9-year Danajamin-guaranteed MTN Programme (Tranche 2) respectively. The outlook for the ratings is maintained at stable. The ratings are underpinned by the credit strength of the unconditional...

MARC has assigned a rating of AA-IS with a stable outlook to MMC Corporation Berhad’s (MMC) proposed notes issuance of up to RM1.5 billion under a Sukuk Murabahah Programme (Sukuk Murabahah). The bulk of the proceeds from the proposed programme will be largely utilised to refinance MMC’s existing borrowings at the holding company level. MMC is mainly an investment holding company whose ...

MARC has affirmed its MARC-1ID /AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium-Term Notes Programme (IMTN Programme) and RM500.0 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook on the ratings is stable. MARC’s rating affirmation takes into consideration the challenging operating environment for Si...

MARC has affirmed its AAAID rating on MISC Berhad's (MISC) RM2.5 billion Islamic Medium-Term Notes (IMTN) programme. The outlook on the rating is stable. The rating incorporates significant rating uplift from MISC’s standalone credit profile based on the rating agency’s assessment of very strong parental support from Petroliam Nasional Berhad (PETRONAS). In assessing parental support, MARC has...