MARC has assigned preliminary ratings to Berjaya Land Berhad’s (BLand) proposed 10-year RM650.0 million guaranteed Medium-Term Notes (MTN) programme of AAA(fg) for the RM500.0 million portion guaranteed by Danajamin Nasional Berhad (Danajamin) guaranteed and AAA(bg) for the RM150.0 million guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The outlook for the ratings is stable. ...

MARC has withdrawn its AAA rating/stable outlook on Cagamas MBS Berhad’s RM380.0 million Tranche 3 bonds issued under the RM2,410.0 million asset-backed fixed rate serial bonds (CMBS 2007-2). The rating withdrawal follows the full redemption of the tranche as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2007-2 is now limited to the outstanding RM1,140.0 mil...

MARC has assigned final ratings of MARC-1IS/AA-IS to Northport (Malaysia) Bhd’s (NMB) Islamic Commercial Papers Programme and Islamic Medium-Term Notes Programme respectively (collectively known as Sukuk Musharakah Programmes) with a joint limit of up to RM1.5 billion. The outlook on the ratings is stable.Upon review of the final documentation of the forthcoming issuance, MARC is satisfied ...

MARC has affirmed its ratings of MARC-1IS /AAAIS on PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) Programme of up to RM2.0 billion. The outlook on the rating is stable. The affirmed ratings are equalised to AAA/MARC-1/Stable ratings of PDB’s parent, Petroliam Nasional Berhad’s (PETRONAS) based on available public information. ...

MARC has assigned a foreign currency sovereign rating of ‘AAA’ with a stable outlook to the Hong Kong Special Administrative Region of China (“Hong Kong”) based on the rating agency’s national rating scale. The government of Hong Kong has no debt rated by MARC; the country ceiling applies to ringgit-denominated issuances by entities domiciled in Hong Kong to reflect ...

 MARC has affirmed Kuwait Finance House (Malaysia) Berhad's (KFHMB) long-term and short-term financial institution (FI) ratings of AA+/MARC-1 and concurrently affirmed the FI ratings of AAA/MARC-1 on its parent bank, Kuwait Finance House K.S C. (KFH) based on public information. The outlook on the ratings is stable. KFHMB’s long-term rating is notched down from that of its parent bank, ...

MARC has affirmed its ratings of MARC-1(fg)/AAA(fg) on Riverson Corporation Sdn Bhd’s (Riverson) RM200 million CP/MTN facility with a stable outlook. The affirmed ratings and outlook are based on the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) which carries MARC’s financial strength rating of AAA/stable. Riverson’s standalo...

MARC has affirmed its AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating and outlook are aligned to MARC’s public information rating on the Sarawak State Government (SSG) on the basis of KPA’s status as a state-owned statutory body and state support provided on the BaIDS....

MARC has downgraded the long-term ratings of Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Medium-Term Notes Programmes to AA(cg) and AAID(cg) from AA+(cg) and AA+ID(cg) respectively. The short-term ratings on the Conventional and Islamic Commercial Papers under the same programmes have been maintained at MARC-1(cg) and MARC-1ID(cg) respectively. ...

MARC has affirmed its AAAIS rating on special purpose vehicle Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) programme of up to RM10.0 billion with a stable outlook. The rating action affects RM6,610.0 million IMTNs in six series issued by Aman under the programme as at November 25, 2014.The affirmed rating is premised on the assured and sufficient sublease rental payments from...