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MARC has withdrawn its B+ rating on Olympia Industries Berhad’s outstanding RM5,500.0 Redeemable Unsecured Loan Stock (RULS) following the full settlement of the RULS on April 11, 2013 as confirmed by the issuer. MARC will cease all analytical coverage on the issuer following the withdrawal of the rating. Contacts: Jasmine Kua, +603-2082 2280/ jasmine@marc.com.my; Rajan Paramesran, +603-2082...
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MARC has assigned a preliminary rating of AAAIS to TNB Northern Energy Berhad's (TNB Northern Energy) proposed issuance of Islamic securities (sukuk) of up to RM2.0 billion with a stable outlook. TNB Northern Energy is a wholly-owned funding vehicle of TNB Prai Sdn Bhd (TNB Prai) which in turn is wholly owned by national utility company, Tenaga Nasional Berhad (TNB). TNB Northern Energy is using t...
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MARC has affirmed the ratings of AAAID and MARC-1ID /AAAID on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (CP/MTN) programmes respectively, and concurrently revised the outlook on the ratings to stable from negative. The rating action affects RM1.3 billion of outstanding notes under the rated programmes. The ou...
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MARC has removed its rating on KMCOB Capital Bhd’s (KMCOB) RM343.1 million Sukuk Murabahah Medium Term Notes (MTN) programme from MARCWatch Negative and affirmed its A+IS(cg) rating on the company. The outlook on the rating is negative. KMCOB is the funding vehicle of Scomi Oilfield Limited (SOL), the oilfield services unit of Scomi Group Bhd (Scomi). MARC had earlier placed KMCOB&rsqu...
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MARC has withdrawn its AA rating on State Bank of India’s (SBI) RM500 million Senior Unsecured Bonds following the full redemption of the bonds which matured on March 29, 2013. MARC will no longer provide analytical coverage on the issuer upon withdrawal of the aforementioned rating.Contact: Sharidan Salleh, +603-2082 2254/ sharidan@marc.com.my. ...
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MARC withdraws its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) Class B and Class C Notes following the notes’ early redemption on September 14, 2012 and December 14, 2012 respectively as confirmed by the facility agent, CIMB Investment Bank Berhad.MARC had earlier withdrawn its rating on Class A Notes on August 6, 2012 following the redemption of all remaining outstandi...
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MARC has assigned a final rating of AA- to WCT Berhad's (WCT) proposed RM1.0 billion 15-year Medium Term Notes (MTN) Programme. The rating carries a stable outlook. Concurrently, MARC has also affirmed its MARC-1ID/ AA-ID and AA- ratings with stable outlook on WCT’s existing debt issuances, a list of which is provided at the end of the announcement.Proceeds from the MTN issuance will be util...
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MARC has withdrawn its rating of AA-IS on WCT Berhad’s outstanding RM100 million Redeemable Sukuk with Warrants. The rating withdrawal follows the final redemption of the outstanding amount on March 25, 2013 as confirmed by the issuer.MARC’s analytical coverage on WCT Berhad is now limited to the following rated debt issuances:RM100 million Islamic Commercial Paper (ICP)/Islamic Medium...
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MARC has affirmed its rating on TSH Sukuk Musyarakah Sdn Bhd’s (TSH Musyarakah) RM100.0 million Islamic Medium Term Notes (IMTN) Programme at AAAIS(fg) with a stable outlook. The rating action affects outstanding notes of RM50.0 million issued under the rated programme.TSH Musyarakah is a special purpose funding vehicle created to facilitate the issuance of the notes under the rated programm...
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MARC has affirmed its ratings on TSH Sukuk Ijarah Sdn Bhd’s (TSH Ijarah) RM100.0 million Sukuk Ijarah Commercial Papers (Sukuk ICP) and RM300.0 million Sukuk Ijarah Medium Term Notes (Sukuk IMTN) Programmes at MARC-1IS /AA-IS with a stable outlook. The rating action affects outstanding notes of RM300.0 million issued under the rated programmes.TSH Ijarah is a special purpose funding vehicle ...
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