MARC has withdrawn its ratings of AAA and AA on Special Coral Sdn Bhd’s (Special Coral) RM300.0 million Senior Class Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows the completion of the refinancing exercise and full redemption of outstanding RM160.0 million Class A MTN and RM40.0 million Class B MTN. There were no issuances for Senior Class C throug...

MARC has affirmed its ratings of AAA, AA and B- on Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN) (Class A MTN), RM50.0 million Senior Class B MTN (Class B MTN) and RM800.0 million Subordinated Class MTN respectively. The outlook on the ratings is stable. As at March 31, 2018, Special Coral has outstanding Senior Class A MTN of RM200.0 million and Subordinated Cl...

MARC has affirmed its ratings of MARC-1IS/AA-IS on UEM Sunrise Berhad’s (UEM Sunrise) two Islamic Commercial Papers and Islamic Medium-Term Notes programmes (ICP/IMTN-1 and ICP/IMTN-2). The outlook on the ratings is stable. The ICP/IMTN-1 and ICP/IMTN-2 each has a programme limit of RM2.0 billion with a sublimit of RM500.0 million on the ICP issuances. UEM Sunrise’s long-term rating inc...

MARC has affirmed its ratings of MARC-1/AA on Murud Capital Sdn Bhd’s (Murud Capital) Senior Commercial Papers/Medium-Term Notes (Senior CP/MTN) programme of up to RM290 million. The outlook on the ratings is stable. Murud Capital currently has an outstanding RM279 million Senior CP under the Senior CP/MTN programme. The aggregate outstanding nominal value of both the Senior and Junior CP/MTN p...

MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s (Kinabalu Capital) Issue 2 medium-term notes (MTN) issue of RM130 million Class A, RM25 million Class B and RM15 million Class C respectively. Concurrently, MARC also affirmed its MARC-1 rating on Kinabalu Capital’s issue of up to RM170 million commercial papers (CP). The issuance of the rated MTN and/or CP...

MARC has affirmed its ratings on Inverfin Sdn Bhd’s (Inverfin) RM185 million Tranche A notes and RM15 million Tranche B notes at AAA and AA respectively under its RM200 million Medium-Term Notes (MTN) programme. Inverfin intends to issue RM160 million Tranche A notes, proceeds of which will be used to redeem the outstanding Tranche A notes maturing on February 28, 2018. Concurrently, MARC has a...

MARC has withdrawn its rating of AAA(fg)/Stable on Segi Astana Sdn Bhd’s (Segi Astana) RM470.0 million Danajamin-guaranteed Medium-Term Notes (MTN) Programme. The rating withdrawal follows the full redemption and subsequent cancellation of the Programme as confirmed by the facility agent on February 7, 2018. Upon the withdrawal of the rating, MARC’s analytical coverage on Segi Astana is ...

MARC has affirmed its debt ratings on Putrajaya Holdings Sdn Bhd’s (PJH) outstanding issuances as follows: RM370.0 million Sukuk Musharakah Programme (due 2030) at AAAIS/stable; RM3.0 billion Sukuk Musharakah Programme (due 2032) at AAAIS/stable; RM1.5 billion Sukuk Musharakah Medium-Term Notes (MTN) Programme (due 2033) at AAAIS/stable; and RM2.2 billion Murabahah Medium-Term Not...

MARC has affirmed its ratings on Berjaya Land Berhad’s (BLand) outstanding RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia) at AAA(bg). The outlook for the ratings is stable. The affirmed ratings reflect the unconditional and irrevocable gua...

MARC has assigned a final rating of AA- to Segi Astana Sdn Bhd’s (Segi Astana) ASEAN Green Medium-Term Notes facility (MTN facility) of up to RM415.0 million. The outlook on the rating is stable. Upon review of the final documentation of the proposed issuance, MARC is satisfied that the terms and conditions of the sukuk have not changed in any material way from the draft documentation on ...