MARC has affirmed its MARC-2ID/AID ratings on Goodway Integrated Industries Berhad’s (Goodway) RM80 million Murabahah Notes Issuance Programme/Islamic Medium Term Notes Programme (MUNIF/IMTN). The outlook on the ratings is maintained at negative. The affirmed ratings take into consideration Goodway’s competitive position as a major domestic producer of rubber compounds and leading prov...

MARC has affirmed its AAA issuer rating on Credit Guarantee Corporation Malaysia Berhad (CGC). The rating reflects CGC’s important policy role in promoting access to financing for small and medium enterprises (SMEs), as well as its majority-ownership by Bank Negara Malaysia (BNM). The rating also takes into consideration the credit guarantee provider’s strong capitalisation, adequate l...

MARC has downgraded the ratings of CapOne Berhad’s (CapOne) RM600 million Super Senior Class A-1 and RM250 million Senior Class A-2 bonds to AA+ and B from AAA and BB respectively and affirmed its RM50 million Mezzanine Class B and RM100 million Subordinated bonds at C. Both of the downgraded classes carry a negative outlook. The downgrades reflect the continued credit deterioration of the u...

MARC has placed its A+ rating on Petra Perdana Berhad’s (Petra Perdana) RM800 million Dual Currency Revolving Facility on MARCWatch Developing following the company’s announcement that it had divested a 25.03% stake in Petra Energy Berhad (Petra Energy). The divestment will reduce Petra Perdana’s shareholdings in Petra Energy to 29.59% and will result in deconsolidation of Petra ...

MARC has downgraded the ratings of CapOne Berhad’s (CapOne) RM600 million Super Senior Class A-1 and RM250 million Senior Class A-2 bonds to AA+ and B from AAA and BB respectively and affirmed its RM50 million Mezzanine Class B and RM100 million Subordinated bonds at C. Both of the downgraded classes carry a negative outlook. The downgrades reflect the continued credit deterioration of the u...

MARC has downgraded its rating on PSSB Ship Management Sdn Bhd’s (PSM) RM40 million Bai’ Bithaman Ajil Islamic Securities (BAIS) to DID from BB-ID. The rating action reflects PSM’s failure to meet its December 15, 2009 scheduled RM5.0 million reduction of its outstanding Islamic commercial papers (ICP). Concurrently, MARC has removed PSM’s rating from MARCWatch Negative, wh...

MARC has affirmed its AAAID /MARC-1ID and AAAIS ratings on Putrajaya Holdings Sdn Bhd’s (PJH) Islamic debt issuances as follows:- RM570 million BBA Bonds Issuance Facility (due 2013) RM850 million BBA Bonds Issuance Facility (due 2013) RM850 million BBA Serial Bonds Issuance Facility (due 2015) RM1.5 billion Murabahah Notes Issuance (MUNIF) Facility (due 2015)RM2.2 billion Murabahah Medium T...

MARC has withdrawn its AA-ID rating on IJM Plantations Bhd’s RM150 million ABBA bonds with immediate effect following the full and final redemption of the outstanding RM35 million ABBA bonds, as confirmed by its trustee, HSBC Trustee (Malaysia) Bhd.Contacts: Lee Mei Lin 03-2090 2259/ meilin@marc.com.my; Ryan Lee Ju Vern, 03-2090 2230/ juvern@marc.com.my ...

MARC has upgraded Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium-Term Notes (MMTN) programme rating to AAID from AA-ID. ISPV is a special purpose company incorporated to facilitate the issuance of the MMTN to finance the purchase of completed telecommunication towers and infrastructure from its holding company, Instacom Engineering Sdn Bhd (IESB), a sub-contractor of telecommun...

MARC has affirmed Tesco Stores (Malaysia) Sdn Bhd’s (Tesco Malaysia) RM3.5 billion Conventional and Islamic Commercial Papers/Medium Term Notes Programme at AAA(cg)/MARC-1(cg) and AAAID(cg)/MARC-1ID(cg) respectively. The ratings reflect the credit strength of the corporate guarantee provided by its parent company, UK-based Tesco plc for the rated facilities and MARC’s public informatio...