MARC has affirmed its AAA rating on Special Port Vehicle Berhad’s (SPVB) asset-backed serial bonds facility. The outlook remains negative. The affirmed rating takes into account the timely track record of payment of deferred repayment obligations from Port Klang Authority (PKA) to SPVB under the Sale and Purchase Agreement (SPA). The SPA dated November 2002 between Kuala Dimensi Sdn Bhd (...

MARC has affirmed the ratings of MARC-1/AA- on IJM Corporation Berhad’s (IJM) RM1.0 billion Commercial Paper/Medium-Term Notes Programme (CP/MTN). The outlook on the long-term rating is revised to stable from negative. The outlook revision is premised on IJM’s improved balance sheet position and positive business prospects arising primarily from a sharp increase in construction order boo...

MARC has affirmed the rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer...

MARC has affirmed its long-term ratings on WCT Holdings Berhad’s (WCT Holdings) debt and sukuk issuances but has revised the ratings outlook to negative from stable. WCT Holdings’ rated debt and sukuk issuances are as follows: RM600 million 5-year Fixed Rate Serial Bonds (due December 2015) at AA-; RM1.0 billion 15-year MTN Programme (due April 2028) at AA-; and RM1.5 billion 15-...

MARC has affirmed its rating on Talam Transform Berhad’s (Talam) outstanding RM53.1 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-ID with a stable outlook. The rating incorporates Talam’s weak financial position and limited business prospects, as well as its continued reliance on timely asset disposals to meet substantial financial obligations. Talam’s borrow...

MARC has affirmed its AAA rating on Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility with a negative outlook. The rating action affects the outstanding bonds of RM480.0 million. The affirmed rating is premised on the satisfactory and timely repayment track record of Port Klang Authority (PKA) in relation to its deferred repayment obli...

MARC has affirmed the ratings of MARC-1/AA- on IJM Corporation Berhad’s (IJM) RM1.0 billion Commercial Paper/Medium-Term Notes Programme (CP/MTN). The outlook on the long-term rating is revised to negative from stable. The outstanding notes under the programme comprise RM300.0 million CPs and RM250.0 million MTNs. The negative outlook incorporates the challenging prospects for IJM group’s cor...

MARC has affirmed its rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial ins...

MARC has assigned rating of AA-IS with a stable outlook to WCT Holdings Berhad’s (WCT Holdings) proposed RM1.5 billion 15-year Sukuk Murabahah programme. Concurrently, MARC has affirmed its existing debt ratings with a stable outlook on WCT Holdings’ outstanding issuances as follows:RM300 million 7-year Islamic Commercial Paper (ICP)/Islamic Medium-Term Notes (IMTN) Programme (due April 2015) ...

MARC has affirmed its rating on the outstanding RM87.4 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) of Talam Transform Berhad (Talam, formerly known as Trinity Corporation Berhad) at B-ID with a stable outlook. The rating incorporates Talam’s limited business prospects in property development, its sizeable financial obligations relative to earnings and its continued re...