MARC has affirmed its rating of A+ID on Zecon Toll Concessionaire Sdn Bhd’s (ZTC) RM60.0 million Bai-Bithaman Ajil Islamic Debt Securities (BaIDS), and revised the outlook on the rating to negative from stable. ZTC is the concession holder of the Tun Salahuddin Bridge, a 339-metre toll bridge over Sarawak River, located in Kuching, Sarawak’s state capital. Since the rating was last aff...

MARC has affirmed the rating of A+ID of Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating carries a stable outlook. ZTC’s revenue generating asset is the Tun Abang Salahuddin Bridge in Sarawak.The rating reflects the satisfactory traffic and revenue profile of the bridge relative to debt serv...

MARC has assigned a rating of A+ID to Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) proposed issuance of RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating reflects the strategic importance of the Tun Salahuddin Bridge (“the Bridge”) as an integral part of the Sarawak Government’s infrastructure development programme to provid...