MARC has affirmed the ratings of Inverfin Sdn Bhd’s (Inverfin) RM200 million Medium Term Notes (MTN) Programme comprising RM185 million of Tranche A and RM15 million of Tranche B notes at AAA and AA respectively. The lower rating on the Tranche B notes reflects its lower priority of payment and security position relative to the Tranche A notes. The outlook on the ratings is stable. There are...

MARC has withdrawn its MARC-1/AAA and MARC-1/AA ratings on the RM160.0 million Class A notes and RM40.0 million Class B notes respectively under Inverfin Sdn Bhd’s (Inverfin) RM200.0 million Commercial Papers/Medium Term Notes (CP/MTN) Programme in conjunction with the full repayment of outstanding notes under the programme. The CP/MTN Programme was refinanced with a new RM200.0 million MTN ...

MARC has assigned final ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.Upon review of the final documentation of the forthcoming notes issuance, MARC is satisfied that...

MARC has assigned preliminary ratings of AAA and AA to Inverfin Sdn Bhd’s (Inverfin) proposed RM185.0 million Tranche A notes and RM15.0 million Tranche B notes respectively. The notes are to be issued under Inverfin’s proposed RM200.0 million Medium Term Notes (MTN) Programme. The outlook on the ratings is stable.The notes are structured on an interest-only basis and backed by the col...

MARC affirms its MARC-1/AAA rating of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes issued under its RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The programme allows for the issuance of junior Class B notes which would carry a rating of MARC-1/AA; however, Inverfin currently has no outstanding Class B notes issued under this programme. The ratings co...

MARC has affirmed its MARC-1/AAA rating of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes issued under its RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The programme allows for the issuance of junior Class B notes which would carry a rating of MARC-1/AA. However, Inverfin currently has no outstanding Class B notes issued under this programme. The ratin...

MARC has affirmed its MARC-1/AAA and MARC-1/AA ratings of Inverfin Sdn Bhd’s (Inverfin) RM160.0 million Class A Notes and RM40.0 million Class B Notes respectively under a RM200.0 million commercial papers/medium term notes (CP/MTN) programme. The ratings are supported by the quality and strategic location of the collateral property, low loan-to-value ratios (LTV) for the respective notes, c...

The affirmed ratings of MARC-1/AAA and MARC-1/AA to Inverfin’s Notes comprising RM160.0 million Class A and RM40.0 million Class B Notes respectively are supported by the quality and strategic location of the collateral property, reasonably low loan-to-value ratios (LTVs) for the respective notes, consistently high occupancy levels and structural features incorporated into the transaction. T...

In MARC’s last rating update on September 30, 2008, Inverfin Sdn Bhd’s (Inverfin) noteholders had approved the proposed buy-back of the company’s outstanding notes under its RM200.0 million Commercial Papers/Medium-Term Notes (Notes) programme. This was in connection with IOI Corporation Bhd’s (IOI) execution of a conditional sale and purchase agreement to acquire Inverfin ...

MARC has received confirmation from Inverfin Sdn Bhd (Inverfin) that noteholders’ approval has been obtained for the proposed buy-back of the company’s outstanding notes under its RM200.0 million Commercial Papers/Medium-Term Notes (CP/MTN) programme. To date, Inverfin’s total obligation under the CP/MTN programme stands at RM160.0 million Class A CP/MTN notes, currently rated at...