MARC has removed its MARC-1/A+ ratings on Radicare Sdn Bhd’s RM100 million CP/MTN facility from MARCWatch Negative following a six-month extension of its hospital support services concession which expired on October 28, 2011. The recent extension has alleviated near-term downward pressure on the company’s debt rating. Radicare’s issue ratings are affirmed at MARC-1/A+ with a nega...

MARC has assigned an insurer financial strength rating of AA- on Malaysia’s national rating scale to Luxembourg-based Atlanticlux Lebensversicherung S.A. (ATL). ATL's insurer financial strength rating incorporates its satisfactory operating performance and comfortable solvency position that is supported by its focus on low capital-intensity investment-linked life insurance business and signi...

MARC has withdrawn its ratings of MARC-2ID/AID on Goodway Integrated Industries Berhad’s (Goodway) RM80 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) with immediate effect. The ratings withdrawal follows the redemption of the outstanding RM50.0 million under the rated facility on October 19, 2011 and concurrently the termination of the programme as confirme...

MARC has assigned a preliminary rating of AAIS with a stable outlook to ANIH Berhad's (ANIH) proposed RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) pending final document review.ANIH is a privately owned company which was formed to acquire toll road concessions which are currently owned by MTD Prime Sdn Bhd (MTD Prime) and Metramac Corporation Sdn Bhd (Metramac) with the use of...

MARC has lowered its ratings on Ample Zone Berhad’s (Ample Zone) RM9.65 million Class B Sukuk Ijarah (sukuk) and RM75 million Class C sukuk to BB+IS and B-IS from A-IS and B+IS respectively. The outlook on the ratings remains negative. The downgrades reflect a heightened risk that upcoming payment obligations in January 2012 will be missed, based on the unsatisfactory progress to date in col...

MARC has affirmed its ratings on special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) (Senior Notes) and RM10 million Junior Islamic Medium Term Notes (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The rating outlook is stable. The rating action affects RM25 million ...

MARC affirmed its short-term and long-term ratings on LBS Bina Group Bhd’s (LBS Bina) RM135 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) Programme at MARC-1IS(fg)/AAAIS(fg) and maintained its stable outlook on the ratings. The rating action affects RM115 million of notes issued under the programme. The ratings and outlook are underpinned by an unconditional and irre...

MARC has affirmed its ratings on Konsortium Lebuhraya Utara – Timur (KL) Sdn Bhd’s (Kesturi) RM820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and RM50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.The ratings reflect adequate growth in vehicle traffic on the strategically locate...

MARC has withdrawn its MARC-1ID/AAAID ratings on Gas Malaysia Sdn Bhd’s (Gas Malaysia) RM200 million Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN) programme following the cancellation of the programme effective September 29, 2011, as confirmed by its facility agent, Bank Muamalat Malaysia Berhad. MARC’s analytical coverage on Gas Malaysia is now limited to its existing RM50...

MARC has affirmed its issue rating of AAA on Oversea-Chinese Banking Corporation Limited's (OCBC) redeemable subordinated bond of up to RM2.5 billion with a stable outlook. The affirmed issue rating reflects the franchise strength of the financial services group, its relatively good earnings stability, and very strong regulatory capitalisation. MARC further notes that the continued deepening of OC...