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MARC has assigned a final rating of AA- to Central Impression Sdn Bhd’s (Central Impression) Fixed Rate Serial Bonds of up to RM120.0 million. The outlook on the rating is stable.Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Fixed Rate Serial Bonds have not changed in any material way from the draft documentation on which the ...
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MARC has withdrawn its rating of AAID on Instacom SPV Sdn Bhd’s RM200.0 million Murabahah Medium Term Notes (MMTN) Programme. The rating withdrawal follows the early redemption of outstanding notes amounting to RM5.0 million under the MMTN programme and the cancellation of the same on October 31, 2014 as confirmed by the facility agent.Upon the withdrawal of the rating, MARC will no longer ...
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MARC has withdrawn its AAA rating on Cagamas MBS Berhad’s (Cagamas MBS) asset-backed fixed rate serial bonds of RM1,555.0 million (CMBS 2004-1). The rating withdrawal follows the full redemption of the final tranche (Series 4) of RM345.0 million bonds issued under CMBS 2004-1 and cancellation of the facility as confirmed by the facility agent.MARC’s analytical coverage on Cagamas MBS ...
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MARC AFFIRMS ITS AA-IS RATING ON WESTSTAR CAPITAL SDN BHD’S RM900 MILLION SUKUK MUDHARABAH PROGRAMME
MARC has affirmed its AA-IS rating on Weststar Capital Sdn Bhd’s (Weststar Capital) RM900 million Sukuk Mudharabah Programme with a stable outlook. Weststar Capital, a wholly-owned subsidiary of offshore helicopter service provider Weststar Aviation Services Sdn Bhd (Weststar), was set up for the sole purpose of facilitating the issuance of the sukuk. The sukuk is secured by the right...
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MARC has assigned a preliminary rating of AIS to DRB-HICOM Berhad’s (DRB-HICOM) proposed Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. Concurrently, the rating agency has affirmed its AA-IS rating on DRB-HICOM’s existing Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion. Both ratings carry a stable outlook. The two-notch rating di...
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MARC has withdrawn its ratings of MARC-1(fg)/AAA(fg) on Syarikat Kapasi Sdn Bhd’s RM200 million Commercial Papers/Medium-Term Notes (CP/MTN) Programme. The ratings withdrawal follows the early redemption of the outstanding notes under the CP/MTN programme and the cancellation of the same on October 14, 2014 as confirmed by the trustee. Upon the withdrawal of the rating, MARC will no longer ...
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MARC has affirmed its rating of AAA(fg) on special purpose vehicle TRIplc Ventures Sdn Bhd’s (TVSB) RM240.0 million Senior Medium-Term Notes (Senior MTN) Programme with a stable outlook. The rating and outlook reflect the credit strength of an unconditional and irrevocable guarantee on the Senior MTN obligations provided by Danajamin Nasional Berhad (Danajamin) which carries a financial ins...
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MARC has affirmed its rating of AAAIS(fg) on Symphony Life Berhad’s (Symphony Life) RM230 million seven-year Islamic Medium-Term Notes (IMTN) Programme with a stable outlook. The affirmed rating 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....
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MARC has issued this update as part of its ongoing monitoring of Kimanis Power Sdn Bhd’s (KPSB) 285-megawatt combined-cycle gas fired power plant project in Kimanis Bay, Sabah. The sukuk currently has a rating of AA-IS with a stable outlook. The power plant’s third generating block (GB3) has failed to declare a commercial operation date (COD) after two rounds of reliability runs due to...
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MARC has assigned a final rating of AA-IS to Jimah East Power Sdn Bhd’s (JEP) Sukuk Murabahah Programme of up to RM8.4 billion. The outlook on the rating is stable. Upon review of the final documentation of the forthcoming issuance, MARC is satisfied that the terms and conditions of the Sukuk Murabahah have not changed in any material way from the draft documents on which the earlier preliminary...
This article has been viewed 1421 times.