MARC has affirmed its AAA rating on Special Port Vehicle Berhad’s (SPVB) asset-backed serial bonds facility and concurrently revised the outlook to stable from negative. The rating action is premised on the sufficient amount in SPVB’s designated accounts to meet the RM180.0 million upcoming final principal repayment of Series 11 bond due on July 28, 2017. The designated accounts balance ...

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 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 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 RM610.0 million. The bonds are backed by deferred payment receivables from Port Klang Authority (PKA) based on the sale and purchase of a 999.5-acre leasehold land parcel on Pul...

MARC has affirmed the 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 RM610.0 million following the redemption of the RM130.0 million Series 7 on July 30, 2013. The assets backing the transaction comprise the deferred payments from Port Klang Auth...

MARC has affirmed the rating of Special Port Vehicle Berhad‟s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA with a negative outlook. The affirmed rating takes into account the satisfactory payment history of the Port Klang Authority (PKA) to date in respect of its deferred payment obligations for the land purchase and development costs of Port Klang Free Z...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The ratings outlook is maintained at negative to reflect a potential withdrawal of government support arising from negative public sentiment surrounding the perceived RM4,632 million bail-out of the Port Klang Free Zone (PKFZ) project and the ongoin...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The rating outlook remains negative. SPVB is a special purpose entity established with the sole purpose of issuing the receivables-backed serial bonds. SPVB acquired future receivables amounting to RM1,699.63 million (including interest) representin...

MARC has affirmed its ratings on the four special purpose vehicle debt issuances which are supported by deferred payment receivables from Port Klang Authority (PKA) in respect of the land purchase and development costs of the Port Klang Free Zone (PKFZ) as follows:Special Port Vehicle Berhad’s (SPVB) RM1,310 million Asset-Backed Serial Bonds at AAA; Transshipment Megahub Berhad’s ...

MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA. The rating carries a stable outlook. SPVB is a special purpose entity established with the sole purpose of issuing the asset-backed serial bonds, the proceeds of which were used to acquire future receivables amounting to RM1,699.63 million (includin...