Credit Analysis Reports - Category: Infrastructure & Utilities
Displaying 51-60 of 501 results.
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MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million. The rating outlook is stable.SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd, which holds an 80% interest in Ranhill SAJ Sdn Bhd (RSAJ), the sole water treatment operator and treated water distributor in Johor. SAJ Capital functions only as a single-purpose funding conduit for the sukuk iss...


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MARC has affirmed its AA-IS rating on Southern Power Generation Sdn Bhd’s (Southern Power) Sukuk Wakalah of up to RM4.0 billion with a stable outlook. Southern Power is a 51:49 joint venture between Tenaga Nasional Berhad (TNB) and SIPP Energy Sdn Bhd (SIPP), and was established to develop a 2x720MW combined-cycle gas-fired power plant in Pasir Gudang.The rating affirmation reflects the steady c...


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MARC has assigned a final rating of AA-IS to port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) proposed RM1.9 billion Islamic Medium Term Notes (Sukuk Murabahah Programme). The rating outlook is stable. The rating reflects PTP’s strong market position as a key transhipment port in the region, its ability to generate strong cash flow and maintain healthy port performance that has con...


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MARC has affirmed its ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM140.0 million outstanding Islamic Medium-Term Notes (IMTN) at AAIS and RM350.0 million outstanding guaranteed IMTN at AAAIS(fg). The outlook on the ratings is stable. RPII owns and operates the 190-MW combined cycle gas turbine (CCGT) Rugading Power Station in Sabah under a 21-year Power Purchase Agreement (PPA) with S...


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MARC affirms the AA-IS rating on Kimanis Power Sdn Bhd's (KPSB) RM1,160.0 million Sukuk Programme (sukuk) with a stable outlook. KPSB owns and operates the 285-megawatt (MW) combined-cycle gas-fired power plant at Kimanis Bay, Sabah. The rating affirmation factors in the favourable terms of KPSB’s 21-year power purchase agreement (PPA) under which the demand risk is allocated to the offtake...


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MARC has affirmed its A+IS rating on Quantum Solar Park (Semenanjung) Sdn Bhd’s (QSP Semenanjung) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM1.0 billion. The rating outlook has been revised to positive from stable.  Among the factors considered in revising the outlook is the financial service cover ratio (FSCR), following the full commencement of operations of ...


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MARC has affirmed its BBB-IS rating on Senai-Desaru Expressway Berhad’s (SDEB) RM1.89 billion Islamic Medium-Term Notes (Restructured Sukuk) Programme with a stable outlook. SDEB is the concessionaire of the 77-km tolled inter-urban Senai-Desaru Expressway (SDE) in Johor, which links the towns of Senai and Desaru with a connecting highway to Pasir Gudang.The rating considers the accommodative am...


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MARC has affirmed its rating of AA+IS on Westports Malaysia Sdn Bhd’s (Westports) RM2.0 billion Sukuk Musharakah Programme with a stable outlook. The rating reflects 1) Westports’ strategic location along one of the world’s busiest shipping routes and its favourable cargo-handling facilities; 2) the company’s steady financial performance under long-term concession agreement; 3) strong...


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MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. This rating action follows from the initial rating action in January 2020 which placed PLUS’ sukuk programme on watch. The sukuk programme carried a AAAIS /Stable rating prior to the MARCWatch placement which was precipitated by a government announcemen...


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MARC has affirmed its rating of AA-IS on Jimah East Power Sdn Bhd’s (JEP) outstanding RM8.98 billion Sukuk Murabahah with a stable outlook. JEP was established to develop, design, construct and operate a 2x1,000-megawatt (MW) ultra-supercritical coal-fired power plant in Jimah, Negeri Sembilan under a 25-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB). The affirme...


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