MARC continues to maintain the rating of B+ID on Trinity Corporation Berhad’s (Trinity) outstanding RM93.9 million Settlement Bithaman Ajil Debt Securities (Settlement BaIDS) on MARCWatch Negative where it was first placed on May 25, 2012. MARC’s rating action is based on the potential cross-default risk on the Settlement BaIDS following the default of Trinity’s wholly-owned subs...

MARC has affirmed its short-term and long-term ratings on MRCB Sentral Properties Sdn Bhd’s (MRCB Sentral) RM400 million Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-1(fg)/AAA(fg) with a stable outlook. The rating action affects RM400 million of outstanding notes issued under the programme. The affirmed ratings and outlook are underpinned by an unconditional and irrevocable...

MARC has issued a rating update on its A- rating on Perdana Petroleum Berhad’s (Perdana Petroleum) RM400 million Nominal Value Secured Serial Bonds following its announced divestment of its 26.9% equity stake in Petra Energy Bhd (PEB). Proceeds raised from the proposed divestment will be applied toward the early redemption of RM70 million of outstanding bonds, of which RM35 million is due on...

MARC has assigned a preliminary rating of AAAIS with a stable outlook to Celcom Transmission (M) Sdn Bhd's (CTX) proposed RM5.0 billion nominal value Sukuk Programme. Proceeds from the sukuk offering will be largely used to retire existing debt of RM4.2 billion. CTX is a core subsidiary of the Celcom Axiata Berhad (Celcom) Group, Malaysia's second largest wireless service provider.The rating refle...

MARC has confirmed its AA+IS/Stable rating on CIMB Islamic Bank Berhad's (CIMB Islamic) RM2.0 billion Tier-2 Junior sukuk programme in connection with the bank's issuance of its third tranche sukuk under the programme. There are two prior issued tranches of sukuk under the same programme: RM300 million sukuk issued in September 2009 and RM250 million sukuk issued in April 2011.The programme rating...

MARC has assigned a preliminary rating of AAAIS to Putrajaya Holdings Sdn Bhd’s (PJH) RM3.0 billion Sukuk Musharakah Programme with a stable outlook. Concurrently, MARC has affirmed its AAAID and AAAIS ratings on PJH’s existing Islamic debt issuances with a stable outlook. A complete list of the affirmed ratings and rated issuances is provided at the end of this announcement.Proceeds f...

MARC has assigned a final rating of AA-IS with a stable outlook to Kimanis Power Sdn Bhd’s (Kimanis) RM1.16 billion Sukuk Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the Sukuk Programme have not changed in any material way from the draft documents on which the earlier preliminary rating of AA-IS was based. Full details on the as...

MARC has assigned a preliminary 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 affirmed its existing debt and sukuk ratings with a stable outlook on WCT’s outstanding issuances. The list of WCT’s rated outstanding issuances is provided at the end of this announcement.The r...

MARC has affirmed its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) Class B and Class C Notes with a stable outlook. The rating affirmation affects RM7.75 million of outstanding Class B Notes and RM20.0 million of outstanding Class C Notes. At the same time, MARC has withdrawn its AAA rating on the Class A Notes following the redemption of all remaining outstanding Class A Note...

MARC has affirmed the ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM350.0 million guaranteed notes and RM360.0 million non-guaranteed notes issued under its RM710 million nominal value Islamic Medium Term Notes (IMTN) Programme at AAAIS(fg) and AAIS respectively. The outlook for both ratings is stable.The affirmed rating and stable outlook on the guaranteed notes reflect the credit strength...