Credit Analysis Reports - Category: Infrastructure & Utilities
Displaying 491-500 of 620 results.
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MARC has affirmed its long-term rating on independent oil terminal (IOT) owner, Assar Chemicals Sdn Bhd’s (ACSB) RM150 million Serial Sukuk Musyarakah (Sukuk) at AAAIS. The outlook on the rating is stable. The affirmed rating reflects the fundamentals of the underlying oil terminal project, underpinned by a 30-year agreement through 2037 with terminal users of superior credit standing. Contr...


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MARC continues to maintain Malaysian International Tuna Port Sdn Bhd’s (MITP) A+ID rated RM240.0 million Bai’ Bithaman Ajil Islamic Securities (BAIS) on MARCWatch Negative, where it had been first placed on February 19, 2009. The continuing MARCWatch Negative placement reflects MARC’s view that MITP faces acute and immediate challenges as implied by its strained liquidity profile...


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MARC has placed its AA-ID rating on SAJ Holdings Sdn Bhd’s (SAJH) RM1.28 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) on MARCWatch Positive following the announced signing of a Master Agreement on March 11, 2009 by the federal government, Johor state government, Syarikat Air Johor Sdn Bhd (SAJSB), Ranhill Utilities Berhad (RUB), Pengurusan Aset Air Berhad (PAAB) and SAJH.  ...


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MARC has affirmed its A rating on Aliran Ihsan Resources Berhad’s (AIRB) RM56.924 million Redeemable Convertible Unsecured Loan Stocks (RCULS). The rating outlook remains developing to reflect uncertainties arising from the current ongoing industry-wide restructuring that involves among others migration of concessions to a new licensing regime or the option for existing water operators to co...


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MARC has affirmed the rating of A+ID on toll road concessionaire, Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) RM780 million redeemable secured serial bonds under an Islamic Istisna Sukuk (Sukuk). The rating carries a stable outlook. The rating affirmation takes into consideration the strategic alignment of the 18 km Duta-Ulu Kelang Expressway (DUKE) that links to a network of major h...


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MARC has affirmed the AAAID(s) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating reflects the strength of the support extended by the state government of Sarawak to KPA evidenced by its letter of support in which the state undertakes to ensure KPA’s financial obligations in relation to the BaIDS are met in a...


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MARC has affirmed the AA+IS rating of port operator Westports Malaysia Sdn Bhd’s (Westports) RM800.0 million Sukuk Musyarakah Medium Term Notes (Sukuk Musyarakah MTN) and maintained the stable rating outlook. The affirmed rating is based on the company’s strong operational efficiency, sound financial profile reflected in its low gearing and strong liquidity position, and solid sponsors...


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MARC has affirmed its MARC-1/A+ ratings on RUN Holding SPV Bhd’s (RHSB) First Series of RM200.0 million under its RM500.0 million Commercial Papers (CPs) and Medium Term Notes (MTN) Programme (the Notes) and revised the outlook on the ratings to developing from stable. RHSB is a bankruptcy remote special purpose company incorporated solely for the purpose of issuing the Notes to purchase Red...


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MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AA+ as well as its ratings on TNB’s Islamic debt facilities which are as follows:    • RM1.0 billion Al-Bai Bithaman Ajil Notes Issuance Facility rated AA+ID;    • RM2.0 billion Al-Bai’ Bithaman Ajil Bonds rated AA+ID; and    • RM1.5 billion...


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MARC has affirmed Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme ratings of MARC-1ID /AA-ID. Concurrently, MARC has revised the rating outlook to developing from stable to reflect SYABAS’ increased risk of lower-than-expected tariffs and early termination of its water distribution concession agreement (CA)....


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