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MARC has affirmed its ratings on MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) outstanding RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-1(fg)/AAA(fg) with a stable outlook. The affirmed ratings and outlook are underpinned by an unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) for the CP/MTN Programme. MARC ...
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MARC has withdrawn its AAAID rating on Putrajaya Holdings Sdn Bhd’s (PJH) RM850 million BBA Bonds with immediate effect. The rating withdrawal follows the early redemption of RM100 million of outstanding bonds on July 31, 2013 as confirmed by the facility agent, RHB Investment Bank Berhad.MARC’s analytical coverage on PJH is now limited to the following debt issuances:RM1.5 billion Mur...
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MARC has withdrawn its ratings of MARC-2ID/AID on Symphony House Berhad's (Symphony) RM100.0 million Islamic Commercial Papers/Medium Term Notes (CP/MTN) Programme. The withdrawal follows the full redemption of all outstanding amounts, and the cancellation of the facility effective July 26, 2013 as confirmed by the facility agent, CIMB Investment Bank Berhad. MARC will cease all analytical coverag...
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MARC has affirmed its rating on Trinity Corporation Berhad’s (Trinity) outstanding RM92.8 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDs) at B-ID. The outlook is revised to stable from negative. The affirmed rating reflects Trinity’s weak business and financial profile arising from the group’s restricted ability to undertake new development projects and its co...
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MARC has affirmed the AAA rating on Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility with a negative outlook. The rating action affects the outstanding bonds of RM740.0 million following the redemption of the RM100.0 million Series 6 in July 2012. The assets backing the transaction comprise the deferred payments from Port Klang Authorit...
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MARC has lowered its debt ratings on KNM Capital Sdn Bhd’s (KNM Capital) RM300 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Programme to MARC-2ID/A-ID from MARC-1ID/A+ID. The ratings continue to be maintained on MARCWatch Negative. The rating action affects RM50 million of outstanding notes. KNM Capital is a wholly-owned funding vehicle of KNM...
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MARC has affirmed the ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM350 million guaranteed notes and RM360 million non-guaranteed notes issued under its RM710 million Islamic Medium Term Notes (IMTN) Programme at AAAIS(fg) and AAIS respectively. The outlook for both ratings is stable. RPII is the special purpose project company that operates the 190- megawatt combined-cycle gas turbin...
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MARC has affirmed its AAAIS(bg) and AAAIS(fg) ratings on Ranhill Power Sdn Bhd’s (RPSB) RM300 million bank guaranteed (Tranche 1) and RM500 million Danajamin Nasional Bhd (Danajamin) guaranteed (Tranche 2) Sukuk Musharakah facilities respectively. The outlook for both ratings is maintained at stable.The rating on Tranche 1 reflects the credit strength of an unconditional and irrevocable guar...
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MARC has downgraded its ratings on Kinsteel Berhad’s (Kinsteel) RM100.0 million Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme and RM100.0 million Murabahah Medium Term Notes (MTN) Programme to MARC-4ID/BB+ID and BB+ID from MARC-3ID/BBBID and BBBID respectively. Concurrently, the ratings have been placed on MARCWatch Negative. The rating downgrades and MARCWatch placement r...
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MARC has withdrawn its AAAID ratings on Putrajaya Holdings Sdn Bhd’s (PJH) RM570 million Al-Bai Bithaman Ajil (BBA) Bonds and RM850 million BBA Bonds with immediate effect following the final redemption of the bonds as confirmed by its facility agent, RHB Investment Bank Berhad.MARC’s analytical coverage on PJH is now limited to the following rated debt issuances:RM850 million BBA Seri...
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