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MARC has affirmed its AAAID rating on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) programme. The outlook on the rating is maintained at stable. The rating action incorporates the group’s leading position in the LNG shipping segment derived largely from its long-term contracts with its parent company Petroliam Nasional Berhad (PETRONAS) as well as MISC’s moderate...
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MARC has affirmed the rating on Boustead Holdings Berhad’s (Boustead) RM1.0 billion Bank Guaranteed Medium Term Notes (BG MTN) programme at AAA(bg) with a stable outlook. The rating reflects the credit strength of the syndicated bank guarantee facility provided by OCBC Bank (Malaysia) Berhad (OCBC Malaysia), Public Bank Berhad (Public Bank), Malayan Banking Berhad (Maybank) and The Bank of E...
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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...
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MARC has withdrawn its AA-ID rating on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Serial Bonds). The withdrawal follows the early redemption of all outstanding amounts under the Istisna’ Serial Bonds on December 31, 2013. Bayu Padu is a special purpose funding entity of SapuraKencana Petroleum Berhad. Upon the withdrawal of the rating, MAR...
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MARC has withdrawn its MARC-1ID/AAAID ratings on MISC Berhad’s (MISC) RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (Murabahah CP/MTN) programme. The withdrawal follows the expiry of the programme on December 27, 2013 as confirmed by the facility agent. There was no outstanding amount under the programme prior to its expiration. MARC’s analytical coverage on MISC is now l...
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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...
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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...
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MARC has withdrawn its A+IS(cg) rating on KMCOB Capital Berhad’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme with immediate effect. The rating withdrawal follows the early redemption and full settlement of the programme on December 6, 2013 as confirmed by the facility agent, Hong Leong Investment Bank Berhad. MARC’s analytical coverage on KMCOB is no...
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MARC has withdrawn its AA-ID and AID ratings on Alpha Circle Sdn Bhd’s (Alpha Circle) RM345.0 million Senior Musharakah Medium Term Notes (MMTN) and RM35.0 million Junior MMTNs respectively with immediate effect. The rating withdrawals follow the early redemption of the outstanding RM315.0 million Senior MMTNs and RM35.0 million Junior MMTNs on November 19, 2013 as confirmed by t...
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MARC has assigned a final rating of AAA(fg) to KMCOB Capital Berhad’s (KMCOB Capital) Guaranteed Serial Bonds of up to RM320 million (Guaranteed Serial Bonds) with a stable outlook. Upon review of the final documentation of the forthcoming bond issuance, MARC is satisfied that the terms and conditions of the Guaranteed Serial Bonds have not changed in any material way from the draft document...
This article has been viewed 1678 times.