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MARC has assigned its MARC-1ID/MARC-1 ratings to Bank Pembangunan Malaysia Berhad’s (BPMB) proposed Islamic Commercial Papers and/or conventional Commercial Papers programme of up to RM2.0 billion in nominal value. At the same time, MARC has also affirmed BPMB’s financial institution rating of AAA. The rating outlook is stable. The ratings reflect BPMB’s status as a wholly govern...
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MARC has affirmed its AAAID rating on Kwantas SPV Sdn Bhd’s (Kwantas SPV) outstanding RM80 million Class A Sukuk with a stable outlook. Concurrently, MARC has withdrawn its AAAID and A+ID ratings on Kwantas SPV’s RM15 million Class B and RM60 million Class C Sukuk respectively, which have been fully redeemed. MARC has also affirmed its ratings on Kwantas SPV’s RM65 million Muraba...
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MARC has affirmed its AA-(bg) rating on Sistem Penyuraian Trafik KL Barat Sdn Bhd’s (SPRINT) RM365 million Bank Guaranteed Serial Fixed Rate bonds (BG Bonds) with a stable outlook. The rating and outlook on the BG Bonds reflects that of the lowest-rated financial institution participating in the consortium of three bank guarantors. MARC currently maintains a long-term financial institution r...
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MARC has affirmed its AA+IS rating of port operator Westports Malaysia Sdn Bhd’s (Westports) RM800.0 million Sukuk Musyarakah Medium-Term Notes (Sukuk Musyarakah MTN). The rating outlook is stable. The affirmed rating considers Westports’ competitive position, operational track record, continued robust cash flows from operations and financial flexibility. Since MARC’s last rating...
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MARC has removed its AIS rating on Matang Highway Sdn Bhd's (Matang) RM70.0 million Sukuk Musharakah (Sukuk) from MARCWatch Negative where it had been placed on December 13, 2010 to highlight a potential shortfall and departure from the scheduled build up of sinking fund. Matang is a wholly-owned single-purpose funding vehicle of Zecon Berhad (Zecon). Its payment obligations under the fully-amorti...
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MARC has affirmed its bank guaranteed ratings of MARC-1ID(bg)/AA-ID(bg) on Mulpha International Berhad’s (Mulpha) RM75 million Bank Guaranteed Murabahah Notes Issuance Facility (MUNIF). The outlook on the MUNIF ratings has been revised to positive to reflect the revised rating outlook of the lower of the financial institution ratings of AmInvestment Bank Berhad and CIMB Bank Berhad, the guar...
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MARC has affirmed the ratings on Harum Intisari Sdn Bhd’s (HISB) Al-Murabahah Commercial Papers (MCP)/Medium Term Notes (MMTN) Programme with a nominal value of up to RM300 million at MARC-1ID(cg)/AA-ID(cg) with a stable outlook. The ratings reflect the credit strength of Gamuda Berhad (Gamuda), the ultimate parent company of HISB, which has provided a corporate guarantee for the rated...
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MARC has assigned a preliminary rating of AAAIS with a stable outlook to the Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion by Aman Sukuk Berhad (Aman).Aman is a special purpose vehicle established to facilitate the issuance of IMTNs on behalf of its parent, Pembinaan BLT Sdn Bhd (PBLT). PBLT, an entity wholly-owned by the Government of Malaysia (GoM), constructs facilities and...
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MARC has withdrawn its A+ rating on Handal Offshore Services Sdn Bhd’s (Handal) RM50 million Medium Term Notes Programme (MTN) with immediate effect. The rating withdrawal follows the early redemption of the nominal outstanding amount of RM15.0 million in the MTN programme on November 22, 2010 and cancellation of the facility on November 29, 2010 as confirmed by the facility arrang...
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MARC has affirmed its ratings on 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 stable. The ratings reflect the credit strength of the corporate guaran...
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