Rating action     MARC Ratings has affirmed its AAAIS  rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.22 billion sukuk with a stable outlook.      TNB Northern is the funding vehicle for TNB Prai Sdn Bhd (TNB Prai), which operates a 1,071.43MW combined-cycle gas turbine (CCGT) power plant (comprising two power generation units — Un...

Rating action        MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s outstanding sukuk of RM1.32 billion with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, a 100% indirectly-owned subsidiary of Tenaga Nasional Berhad (TNB). TNB Prai operates a 1,071.43MW combined-cycle gas turbine (CCGT) power plant (comprisin...

Rating action     MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding sukuk of RM1.35 billion with a stable outlook. Rationale     The rating is equalised to Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable from MARC. The rating equalisation is based on our view on the strength of the financial com...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern) outstanding Islamic securities (sukuk) of RM1.415 billion. The rating carries a stable outlook.TNB Northern is a funding vehicle of TNB Prai Sdn Bhd (TNB Prai) which was established to design, construct, own, operate and maintain the 1,071.43-MW combined-cycle gas turbine (CCGT) power plant in Seberang Perai Tengah, ...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's outstanding Islamic securities (sukuk) of RM1.475 billion with a stable outlook. TNB Northern Energy is a wholly-owned subsidiary of TNB Prai Sdn Bhd and was set up to construct a 1,071.43-MW combined-cycle gas turbine (CCGT) power plant in Seberang Perai Tengah, Penang. TNB Prai in turn is 100%-owned by Tenaga Nasional Ber...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) outstanding Islamic securities (sukuk) of RM1.535 billion with a stable outlook. The rating and outlook are equalised with those of TNB Northern Energy’s ultimate parent, Tenaga Nasional Berhad (TNB) on which MARC currently has a senior unsecured rating of AAA/Stable. The rating equalisation is based on fina...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) outstanding Islamic securities (sukuk) of RM1.595 billion with a stable outlook. TNB Northern Energy is a funding vehicle of its parent TNB Prai Sdn Bhd (TNB Prai), a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB), for the construction of a 1,071.43-megawatt (MW) combined-cycle gas turbine (CCGT...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) Islamic securities (sukuk) of RM1.625 billion with a stable outlook. TNB Northern Energy was established to finance and develop a 1,071.43-megawatt combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang, under a 21-year power purchase agreement (PPA) with offtaker Tenaga Nasional Berhad (TNB)...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) Islamic securities (sukuk) of RM1.625 billion with a stable outlook. TNB Northern Energy is an indirect wholly-owned subsidiary of Tenaga Nasional Bhd (TNB) and was established to undertake the construction of a 1,071.43-megawatt combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang, under a ...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) Islamic securities (sukuk) of RM1.625 billion with a stable outlook. The rating and outlook are equalised with those of the project sponsor, Tenaga Nasional Berhad (TNB), which has provided credit substitution in the form of explicit project completion support and rolling guarantees in favour of the sukukholde...