Rating action          MARC Ratings has affirmed its A+IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM172.3 million Green Sustainable and Responsible Investment (SRI) Sukuk. The outlook has been revised to stable from positive. UiTM Solar is a project company incorporated to develop a 50MWac solar power plant in Gambang, Pahang.RationaleThe affir...

Rating action          MARC Ratings has affirmed its rating of A+IS on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM182.3 million and revised the outlook to positive from stable.Rationale  The outlook revision reflects the improved operational performance of UiTM Solar’s 50MWac solar photovo...

Rating action     MARC Ratings has removed UiTM Solar Power Sdn Bhd’s rating from MARCWatch Negative placement and concurrently lowered the rating to A+IS from the AA-IS prior to the MARCWatch placement. The rating outlook is negative. The current outstanding is RM192.3 million Green Sustainable and Responsible Investment (SRI) Sukuk. Rationale  The rating removal from M...

Rating action     MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding Green Sustainable and Responsible Investment (SRI) Sukuk of RM202.3 million. The outlook is stable. Rationale     The rating affirmation continues to reflect the strength of UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The rating is mainly driven by UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company wil...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable.  The affirmed rating is mainly driven by UiTM Solar’s 21-year power purchase agreement with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national powe...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is the project owner of a greenfield solar power plant (SPP) with a capacity of 50MWac in Gambang, Pahang. The project is 94.0% completed as at November 7, 2018, according to the independent consulting engineer and is expect...

MARC has assigned a rating of AA-IS to UiTM Solar Power Sdn Bhd’s (UiTM Solar) proposed Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is 98% owned by UiTM Energy & Facilities Sdn Bhd (UiTM Energy), a wholly-owned subsidiary of UiTM Holdings Sdn Bhd (UHSB) which in turn is wholly owned by Universiti Teknologi Mara (UiTM), a higher learning ins...