MARC affirms its ratings of Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM365 million Bank Guaranteed Serial Fixed Rate Bonds (BG Bonds) at A+ID and AA-(bg) respectively. The outlook on the ratings is stable. SPRINT is the concession owner and operator of the 25.5km SPRINT highway consisting of the Damansara Link...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and Islamic debt rating of AAAID for the outstanding RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook on the ratings is stable. The ratings continue to incorporate an uplift from TNB’s standalone credit assessment and fundamentally represents the high likelihood of support from the government premised on ...

MARC assigns a rating of AA-IS to Cerah Sama Sdn Bhd’s (Cerah Sama) proposed first issuance of RM420.0 million sukuk under its RM750.0 million Sukuk Musharakah Programme with a stable outlook. The rating on the sukuk derives from MARC’s assessment of the underlying economic strength of the Cheras-Kajang Highway operated by Cerah Sama’s key and only material operating subsidiary, ...

MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme. The rating outlook is stable. PLUS Berhad holds a portfolio of tolled expressways, of which the North-South Expressway (NSE) is its largest revenue source. The affirmed rating continues to incorporate a two-notch rating uplift from PLUS Berhad’s standalone ratin...

MARC has assigned long-term and short-term programme ratings of AA-IS and MARC-1IS respectively to Malakoff Power Bhd’s (MPower) RM5.6 billion Murabahah Securities Facility and RM300.0 million Islamic Commercial Paper (ICP) Programme (collectively referred as Sukuk Murabahah Facility). The outlook on the ratings is stable.MPower is a wholly-owned subsidiary of Malakoff Corporation Berhad (Ma...

MARC has affirmed its ratings of MARC-1(fg)/AAA(fg) on Riverson Corporation Sdn Bhd’s (Riverson) RM200 million CP/MTN facility with a stable outlook. The affirmed ratings and outlook reflect the unconditional and irrevocable financial guarantee on the rated programme by Danajamin Nasional Berhad (Danajamin), which has a rating of AAA/stable from MARC. Danajamin’s rating is underpinned ...

MARC affirms its ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and RM50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.The affirmed ratings reflect the satisfactory growth of traffic volume on Kesturi’s toll ...

MARC has affirmed the ratings of DHTI Capital Sdn Bhd’s (DHTI Capital) RM110 million Islamic Commercial Papers (ICP)/Islamic Medium Term Notes (IMTN) (collectively referred to as Senior Notes) and RM10 million Junior IMTNs (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The ratings outlook is stable. The rating action affects RM33 million of outstanding notes, comprising RM30 million...

MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating derives from intermediate and ultimate holding company Putrajaya Holdings Sdn Bhd’s (PJH) and Petroliam Nasional Berhad’s (PETRONAS) continued su...

MARC has affirmed the AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating is aligned to MARC’s public information rating on the Sarawak state government (SSG) on the basis of its statutory body status as well as a letter of support provided by the SSG for the BaIDS and demonstrat...