Rating action     MARC Ratings has affirmed its AAAIS /MARC-1IS ratings on Gas Malaysia Distribution Sdn Bhd’s (GMD) Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion. The ratings outlook is stable. The outstanding amount under the programmes stood at RM331.0 million as at end-July 2022. Ratio...

Rating action     MARC has affirmed its AAAIS/MARC-1IS ratings on Gas Malaysia Distribution Sdn Bhd’s (GMD) Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion. The ratings outlook is stable.Rationale     The affirmed ratings are mainly driven by GMD’s near-monopoly position in natur...

MARC has assigned ratings of AAAIS / MARC-1IS to Gas Malaysia Distribution Sdn Bhd’s (GMD) proposed Islamic Medium-Term Notes (IMTN) programme and Islamic Commercial Papers (ICP) programme with a combined limit of up to RM1.0 billion (both referred to as sukuk programmes). The ratings outlook is stable.GMD is a wholly-owned subsidiary of Gas Malaysia Berhad and was established as part of a ...