Credit Analysis Reports
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Rating action     MARC has downgraded its ratings on MEX II Sdn Bhd’s RM1.3 billion Sukuk Murabahah Programme to BBIS from BBBIS, and RM150.0 million Junior Bonds to B from BB. The ratings remain on MARCWatch Negative.The rating of the Junior Bonds is three notches below the Sukuk Murabahah Programme’s rating, reflecting MARC’s notching policy on subordinated instruments in th...


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MARC has downgraded MEX II Sdn Bhd’s (MEX II) RM1.3 billion Sukuk Murabahah Programme rating to BBBIS  from AIS, and its RM150.0 million Junior Bonds to BB from BBB. The ratings remain on MARCWatch Negative.The ratings have been on MARCWatch Negative since May 2020 following insufficient progress with respect to MEX II’s 16.8-km Lebuhraya Putrajaya-KLIA highway project (MEX Extension) sin...


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MARC has affirmed its ratings of AA-IS and A- on toll concessionaire MEX II Sdn Bhd’s (MEX II) RM1.3 billion Sukuk Murabahah Programme (Sukuk Murabahah) and RM150 million Junior Bonds issuance (Junior Bonds). The three-notch rating differential between the Sukuk Murabahah and Junior Bonds reflects the latter’s subordinated pos...


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MEX II Sdn Bhd’s sukuk ratings have been on MARCWatch Developing since May 30, 2018. The placement follows the increased near-term uncertainty pending full clarity on the new administration’s exact plans to deliver pre-election commitments on the scrapping of toll road charges. MARC will seek to resolve the MARCWatch Developing status once there is more clarity regarding the abolition of toll...


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MARC has affirmed its AA-IS and A- ratings on MEX II Sdn Bhd’s (MEX II) RM1.3 billion Sukuk Murabahah Programme (Sukuk Murabahah) and RM150 million Junior Bonds issuance (Junior Bonds) respectively. The outlook on the ratings is stable. MEX II has a 33-year toll concession agreement with the Malaysian government to design, construct, operate and maintain a 16.8-km Lebuhraya Putrajaya-KLIA ...


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MARC has assigned AA-IS and A- ratings to special purpose company MEX II Sdn Bhd’s (MEX II) proposed RM1.3 billion Sukuk Murabahah Programme (Sukuk Murabahah) and RM150 million Junior Bonds issuance (Junior Bonds). The outlook on the ratings is stable. The three-notch rating differential between the Sukuk Murabahah and Junior Bonds reflects the latter’s subordinated position, its deferred pro...


Normal Price: RM500.00       Subscriber Price: Free Download