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MARC has withdrawn its ratings of MARC-1/MARC-1ID on Cagamas Berhad’s (Cagamas) Conventional and Islamic Commercial Paper (CP and ICP) programmes of up to RM20 billion. The ratings withdrawal follows the full redemption of the outstanding amount under the CP and ICP programmes and the expiration of the programmes on June 25, 2014 as confirmed by the facility agent. MARC’s analytical co...
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MARC has withdrawn its ratings of AAAID and MARC-2ID(cg)/A-ID(cg) on Kwantas SPV Sdn Bhd’s (Kwantas SPV) RM155 million asset-backed Sukuk Ijarah and up to RM65 million Murabahah Commercial Papers/Medium-Term Notes (CP/MTN) Programme respectively. The ratings withdrawal follows the full redemption of the outstanding RM20.0 million Class A Sukuk Ijarah and the cancelation of the Sukuk Ijarah a...
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MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah (sukuk) with a stable outlook. The affirmed rating incorporates a two-notch support uplift from KEV’s standalone credit profile to reflect MARC’s expectation of a very high probability of parental support from Tenaga Nasional Berhad (TNB) (rated AAA/Stable). The rating agency&rs...
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MARC has affirmed its AAA financial institution rating on Bank Pembangunan Malaysia Berhad (Bank Pembangunan) and MARC-1ID / MARC-1 programme ratings on the bank’s Islamic and/or Conventional Commercial Papers (CP) Programme of up to RM2.0 billion with a stable outlook. The ratings reflect the support from the Government of Malaysia to Bank Pembangunan stemming from the bank’s st...
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MARC has assigned financial institution ratings of A/MARC-1 to Bank Muamalat Malaysia Berhad (Bank Muamalat) and concurrently assigned a preliminary rating of AIS on the proposed Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The outlook on the ratings is stable. The rating on Bank Muamalat’s Senior Sukuk issuance is equalised to the bank’s financial institution ...
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MARC has assigned preliminary short-term ratings of MARC-1/MARC-1ID to Cagamas Berhad’s (Cagamas) proposed Conventional and Islamic Commercial Paper (CCP/ICP) programmes respectively with an aggregate combined limit of RM20 billion. Concurrently, MARC has affirmed its long-term Conventional and Islamic debt ratings of AAA/AAAID and its short-term conventional and Islamic debt ratings of MARC...
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MARC has withdrawn its rating of AAAIS on Putrajaya Management Sdn Bhd’s (PMSB) RM370.0 million Islamic Medium-Term Notes (Sukuk Wakalah) Programme at the request of the issuer. No Sukuk Wakalah have been issued to date and the issuer is in the process of cancelling the Sukuk Wakalah Programme.Upon the withdrawal of the rating, MARC will no longer be providing analytical coverage on the issu...
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MARC has withdrawn its AAAIS rating/stable outlook on Cagamas MBS Berhad’s RM270.0 million Tranche 3 under the RM2,110.0 million asset-backed Sukuk Musyarakah issuance (CMBS 2007-1-i). The rating withdrawal follows the full redemption of the tranche on May 29, 2014 as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2007-1-i is now limited to the outstanding RM1...
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MARC has affirmed its rating of AA-IS on Tanjung Bin O&M Berhad’s (Tanjung Bin O&M) RM470.0 million Islamic Securities (Sukuk Wakalah) with a stable outlook. The affirmed rating essentially reflects the reliance on the future cash flows from the operations and maintenance (O&M) services for the 2,100-megawatt (MW) coal-fired power plant owned by related entity Tanjung Bin Power S...
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MARC has withdrawn its ratings of MARC-1ID/AA-ID on WCT Holdings Berhad’s (WCT Holdings) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ratings withdrawal follows the cancellation of the facility on May 7, 2014 as confirmed by the facility agent. MARC’s analytical coverage on WCT Holdings is now limited to the following rated debt issuances:RM300.0...
This article has been viewed 1746 times.