Credit Analysis Reports
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Rating action            MARC Ratings has revised its ratings outlook on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion to positive from stable. Meanwhile, the ratings have been affirmed at A+IS and A-IS with the two-notch rating differential between the programmes reflecting the subordi...


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Rating action     MARC Ratings has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the latter’s subordination to the senior sukuk, in line with MARC Ratings’ notching principles on hybrid securitie...


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Popularity: 865 views 118 downloads
Rating action     MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the subordination of the perpetual sukuk to the senior sukuk in line with MARC’s notching principles on hybrid securities. All rati...


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MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The ratings outlook has been revised to stable from positive.The affirmed senior sukuk rating is underpinned by our view that DRB-HICOM is better placed to withstand the impact from the COVID-19 pandemic on its fairly diverse busine...


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Popularity: 1748 views 136 downloads
MARC has assigned a final rating of A+IS to DRB-HICOM Berhad’s proposed Islamic Medium-Term Notes Programme (Sukuk Programme) with a nominal value of up to RM3.5 billion. The rating outlook is positive. Concurrently, MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s existing Islamic Medium-Term Notes (IMTN) Programme of up ...


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Popularity: 1433 views 175 downloads
MARC has affirmed its ratings of A+IS and A-IS 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 two-notch rating differential between the Perpetual Sukuk and the IMTN is in line with MARC’s notching principles on hybrid securities. The rati...


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Popularity: 1271 views 107 downloads
MARC has affirmed its ratings of A+IS and A-IS 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 outlook on the ratings is maintained at stable. The affirmed ratings reflect the improving credit profile of DRB-HICOM following a 49.9% dilution in...


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MARC has downgraded its rating on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion to A+IS from AA-IS. Concurrently, the rating agency has lowered the rating on the Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion to A-IS from AIS. The outlook on all ratings has been revised to stable from negative. The rating actions ...


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Popularity: 1696 views 14 downloads
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...


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Popularity: 1857 views 122 downloads
MARC has assigned a final rating of AIS to DRB-HICOM Berhad’s (DRB-HICOM) Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. Concurrently, the rating agency has affirmed its AA-IS rating on DRB-HICOM’s existing Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion. Both ratings carry a stable outlook.  The two-notch rating differential between the ...


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