MARC has assigned rating of AAAIS to TNB Northern Energy Berhad's (TNB Northern Energy) issuance of Islamic securities (sukuk) of RM1.625 billion with a stable outlook. TNB Northern Energy is a wholly-owned funding vehicle of TNB Prai Sdn Bhd (TNB Prai) which in turn is wholly owned by national utility company Tenaga Nasional Berhad (TNB). TNB Northern Energy is using the sukuk proceeds to part-fi...