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MARC has withdrawn its MARC-4/BB+ ratings on RUN Holding SPV Bhd’s (RUNH) RM500.0 million Commercial Papers/Medium Term Notes (CP/MTN) Programme with immediate effect. The ratings withdrawal follows the full redemption of outstanding RM120 million on November 25, 2011 and cancellation of the facility, as confirmed by the security agent, UOB (Malaysia) Berhad. Contacts: David Lee, +603-2082 2...
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MARC has affirmed its ratings on MISC Berhad's (MISC) RM2.5 billion Islamic Medium Term Notes (IMTN) and RM1.0 billion Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) Programmes at AAAID and MARC-1ID /AAAID respectively and revised the outlook to negative from stable. The rating action affects RM2.25 billion of outstanding notes under the rated programmes.The outlook revision follows the c...
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MARC has affirmed its AAAID rating on Kwantas SPV Sdn Bhd’s (Kwantas SPV) outstanding RM60 million Class A sukuk with a stable outlook. Concurrently, MARC has also affirmed its ratings on Kwantas SPV’s RM65 million Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme at MARC-2ID(cg)/A-ID(cg). The rating outlook on the Murabahah CP/MTN Programme has been revised to stable fr...
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MARC has removed its BBID rating on Maxtral Industry Berhad’s (Maxtral) RM80.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) from MARCWatch Negative and has withdrawn the rating with immediate effect following the full redemption of the outstanding notes as confirmed by the facility agent, OSK Investment Bank Berhad.MARC’s rating coverage on Maxtral is now only li...
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MARC has affirmed its AAAIS rating on TTM Sukuk Berhad’s (TTM SPV) RM600.0 million Sukuk Murabahah with a stable outlook. TTM SPV is a funding vehicle of Trans-Thai Malaysia (Thailand) Ltd (TTMT), a 50:50 joint-venture between Petroliam Nasional Berhad (PETRONAS) and Thailand's PTT Public Company Ltd (PTT). TTM SPV was incorporated to raise funding for the construction of two gas pipelines t...
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MARC has issued an errata notice pertaining to its January 2011 rating announcement and Credit Analysis Report on Symphony House Berhad's (Symphony) RM100.0 million Islamic Commercial Papers/Medium Term Notes Programme.The rating agency said that an error occurred during the making of its press release on its January 2011 rating action and the publication of the corresponding Credit Analysis Repor...
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MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna' Bond) and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) programme at AA-ID and MARC-1ID/AA-ID respectively with a stable outlook. The rating action affects RM220 million of Istisna' Bonds and RM95 million of MCP notes outstanding under the rated program...
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MARC has withdrawn its MARC-3ID/BBBID ratings on Syarikat Bekalan Air Selangor Sdn Bhd’s (SYABAS or Issuer) RM3.0 billion Bai Bithaman Ajil Commercial Papers/Medium Term Notes Programme (BBA CP/MTN) at the request of the Issuer. The ratings withdrawal affects RM2.125 billion of outstanding MTN issued under the aforementioned programme. SYABAS’ ratings were last downgraded on April 6, 2...
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MARC has withdrawn its MARC-3ID/BBB-ID ratings on Syarikat Pengeluar Air Sungai Selangor Sdn Bhd’s (SPLASH) RM435 million Islamic Notes Issuance Master Programme (Notes) comprising RM50 million Murabahah Commercial Papers and RM385 million Murabahah Medium Term Notes at the request of the issuer. The ratings withdrawal affects RM265 million of outstanding notes issued under the aforementione...
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MARC has downgraded the long-term ratings to A+ID from AA-ID, and revised the outlook of the ratings to developing from stable and concurrently affirms the short-term ratings at MARC-1ID for the following rated programmes/issuers:RM300.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/Islamic Medium Term Notes (IMTN) Programme of KNM Capital Sdn Bhd (KNM Capital); andRM400.0 mi...
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