The affirmation of AAAID on GDC (Putrajaya) Sdn Bhd’s (GDC Putrajaya) Al-Bai’ Bithaman Ajil Islamic Debt Securities reflects the significance of the project in providing the supply of chilled water to all Government premises in Putrajaya; the credit assurance secured with the Government and Putrajaya Holdings Sdn Bhd (PJH) as the main offtakers; and the strong backing from the ultim...

The rating for Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) Al Bai Bithaman Ajil Facility (ABBA) has been downgraded to A –ID. The issuer’s stand alone debt rating is, in the meantime, equivalent to the lowest rating of the banks in the consortium of guarantors (weak-link approach). As the bank guaranteed (bg) rating does not enhance or give a favourable effect to the iss...

The rating for Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) bank guaranteed bonds of ‘A’ is the same as the project’s stand-alone long-term debt rating notwithstanding unconditional and irrevocable guarantees provided by a consortium of banks as to the timely payment of interest and principal due on the bonds. MARC evaluated the credit enhancement provided by the ba...

MARC has assigned a rating of AAAIS with a stable outlook to Celcom Transmission (M) Sdn Bhd's (CTX) RM5.0 billion nominal value Sukuk Programme. Proceeds from the sukuk offering will be largely used to retire existing debt of RM4.2 billion. CTX is a core subsidiary of the Celcom Axiata Berhad (Celcom) Group, Malaysia's second largest wireless service provider.The rating reflects the credit streng...