MARC has lowered its ratings on Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility to MARC-1(cg) /AA+(cg) and MARC-1ID(cg) /AA+ID(cg) from MARC-1(cg) /AAA(cg) and MARC-1ID(cg) /AAAID(cg) respectively. The outlook for the ratings is revised to st...

MARC has affirmed its rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. Concurrently the rating outlook is revised to stable from negative. The outlook revision reflects MARC’s view that the negative pressure on DRB-HICOM’s credit metrics has eased as proceeds from a series of asset sales have been utilised to reduce group...

MARC has affirmed the rating of AA-ID on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna' Serial Bonds) with a stable outlook. The rating action affects RM130 million of outstanding Istisna' Serial Bonds. Bayu Padu is a special purpose funding entity of SapuraKencana Petroleum Berhad (SapuraKencana). SapuraKencana is one of the world’s largest integra...

MARC has assigned a rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB) proposed guaranteed serial bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. The assigned rating and outlook reflect an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the Guaranteed Serial Bonds. MARC currently rates Danajamin at AAA/sta...

MARC has assigned ratings of AA-IS and AIS on special purpose company Alpha Circle Sdn Bhd’s (Alpha Circle) proposed RM540 million Senior Sukuk Musharakah (Senior Sukuk) and RM55 million Junior Sukuk Musharakah (Junior Sukuk) respectively under the Sukuk Musharakah programme. The ratings carry a stable outlook. The two-notch rating differential between the Senior Sukuk and the Junior Sukuk r...

MARC has affirmed its AAA(bg) and AAA(fg) ratings on investment holding company Premier Merchandise Sdn Bhd’s (Premier Merchandise) RM300 million seven-year bank-guaranteed Medium Term Notes (MTN) Programme (Tranche 1) and RM300 million nine-year Danajamin-guaranteed MTN Programme (Tranche 2) respectively. The outlook for both ratings is maintained at stable.The rating assigned on Tranche 1 ...

MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) outstanding RM61 million Istisna’ Serial Bonds with a stable outlook. The rating is underpinned by the irrevocable and unconditional obligation of the Sarawak State Government, via its State Financial Secretary Inc (SFS), to meet the repayment of the bonds under a redeemable pref...

MARC has affirmed its AA-IS rating on Weststar Capital Sdn Bhd's (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Established for the purpose of facilitating the issuance of the sukuk, Weststar Capital is a wholly-owned subsidiary of offshore helicopter operator Weststar Aviation Services Sdn Bhd (Weststar). ‎Securing the sukuk are the rights to receive 40% of...

MARC has downgraded its long-term Islamic debt ratings on UMW Holdings Berhad’s (UMW) RM300 million Islamic Commercial Paper/Islamic Medium Term Notes (ICP/IMTN) Programme to AA+ID from AAAID. The rating agency also affirmed its short-term rating on the programme at  MARC-1ID. MARC subsequently withdrew all ratings on UMW at its request. The outlook was stable at the time of the wi...

MARC has affirmed its MARC-1ID/AAAID ratings on Sime Darby Berhad’s (Sime Darby) RM4.5 billion Islamic Medium Term Notes Programme (IMTN Programme) and RM500 million Islamic Commercial Papers (ICP) with a combined limit of RM4.5 billion (ICP/IMTN Programme). The outlook of the ratings is stable. The rating of MARC-1ID on the RM150 million Underwritten Murabahah Commercial Papers Facility has...