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MARC has assigned final ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.Upon review of the final documentation of the forthcoming notes issuance, MARC is satisfied that...
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MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional Commercial Papers/Medium Term Notes (CP/MTN) Facility and Islamic Commercial Papers/Medium Term Notes (ICP/IMTN) Facility at MARC-1(cg) /AAA(cg) and MARC-1ID(cg) /AAAID(cg) respectively. The outlook for the ratings is revised to negative from stable. The ratings reflect the credit strength of the ...
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MARC has affirmed the rating of AA-IS on DRB-HICOM Berhad’s (DRB-HICOM) RM1.8 billion Islamic Medium Term Notes (IMTN) programme. The rating outlook is maintained at negative. The affirmed rating considers DRB-HICOM’s asset disposals which give the holding company moderate visibility as to its funding sources for debt servicing requirements over the next two years. MARC’s assessm...
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MARC has downgraded its ratings on Senai-Desaru Expressway Berhad's (SDEB) RM1.89 billion nominal value Senior Sukuk Ijarah Medium Term Notes (Senior Sukuk) Programme and RM3.69 billion nominal value Junior Sukuk Ijarah Medium Term Notes (Junior Sukuk) Programme to BBB+IS and BBIS from A+IS and A-IS respectively. Concurrently, MARC has removed the ratings from MARCWatch Negative where it had been ...
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MARC has affirmed its rating of AA+IS(bg) on Aras Sejagat Sdn Bhd’s (Aras Sejagat) RM500 million Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) programme with a stable outlook. The affirmed rating solely reflects MARC’s affirmation on the financial institution rating of the guarantor, Kuwait Finance House (Malaysia) Berhad (KFHMB), full details of which are provided in the rating announce...
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MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. The affirmed rating takes into account CGC’s sound capitalisation and prudent investment practices as well as the changes that CGC has embarked on in recent years to transform itself into a commercially driven institution. CGC’s adoption of a risk-adjusted pricing method...
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MARC has affirmed its AAA insurer financial strength (IFS) rating on Danajamin Nasional Berhad (Danajamin) with a stable outlook. The affirmed IFS rating continues to reflect Danajamin’s status as a government-sponsored financial guarantee insurer (FGI) and perceived high support from the government in view of its public policy objective of facilitating greater corporate access to the domestic s...
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MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and Islamic debt rating of AAAID for the outstanding RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook on the ratings is stable. The ratings continue to incorporate an uplift from TNB’s standalone credit assessment and fundamentally represents the high likelihood of support from the government premised on ...
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MARC has downgraded its insurer financial strength (IFS) rating on BEST RE (L) Limited (BEST RE) to A+ from AA and revised the outlook to negative from stable. The rating action reflects recent underwriting losses due in part to higher catastrophe losses arising from Thai floods in 2011 and the weakening of its capital adequacy metrics. The current rating incorporates risk-mitigating initiatives u...
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MARC has assigned preliminary ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) proposed RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s proposed RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.The notes are structured on an interest-only basis and backed by the col...
This article has been viewed 1615 times.