Credit Analysis Reports
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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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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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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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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: 1131 views 114 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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Popularity: 1427 views 138 downloads
MARC has affirmed its rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. Concurrently the rating outlook is revised to stable from negative. The outlook revision reflects MARC’s view that the negative pressure on DRB-HICOM’s credit metrics has eased as proceeds from a series of asset sales have been utilised to reduce group...


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MARC has affirmed the rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. The rating outlook is maintained at negative. The affirmed rating considers DRB-HICOM’s asset disposals which give the holding company moderate visibility as to its funding sources for debt servicing requirements over the next two years. MARC’s assessm...


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MARC has assigned a preliminary rating of AA-IS to DRB-HICOM Berhad's (DRB-HICOM) proposed RM1.8 billion Islamic Medium Term Notes Programme with a stable outlook.The structure for the issuance of sukuk under the rated programme is based on the Shariah principle of murabahah. In the first leg of the murabahah transaction, DRB-HICOM will purchase Shariah-compliant commodities on behalf of sukukhold...


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Popularity: 1125 views 115 downloads
MARC has revised its rating outlook on DRB-HICOM Berhad’s (DRB-HICOM or the Group) Islamic Debt Securities (IDS) to positive from developing. The outlook revision affects the following IDS facilities:-1.      RM200.0 million Underwritten Murabahah CP/MTN at A+ID /MARC-1ID ;2.      RM120.0 million Murabahah CP/MTN facilities at A+ID /MARC-1ID ...


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