MARC has assigned a final rating of AA-IS with a stable outlook on Malaysia Marine and Heavy Engineering Holdings Berhad’s (MHB or the group) Sukuk Murabahah Programme of up to RM1.0 billion. The rating incorporates a one-notch uplift from MHB’s standalone rating based on MARC’s assessment on the likelihood of moderate support from MHB’s ultimate parent PETRONAS. The suppo...

MARC has assigned a preliminary rating of AA-IS on Malaysia Marine and Heavy Engineering Holdings Berhad’s (MHB) proposed RM1.0 billion Sukuk Murabahah Programme with a stable outlook. MHB is involved in offshore and marine services, in particular engineering and construction works, vessel conversion and repair services for the oil and gas sector. The proceeds from the sukuk issuance will be...