MARC has assigned a short-term rating of MARC-1IS and a long-term rating of AA-IS to TSH Sukuk Ijarah Sdn Bhd’s (TSH Sukuk) issue of up to RM100 million Sukuk Ijarah Commercial Papers (ICP) and up to RM300 million Sukuk Ijarah Medium Term Notes (IMTN) programmes. Concurrently, MARC has affirmed its ratings of MARC-1ID / AA-ID on the RM100 million Murabahah Commercial Papers / Medium Term Not...

MARC has placed CapOne Berhad’s (CapOne) Bonds comprising RM600.0 million super senior Class A-1 secured bonds and RM250.0 million senior Class A-2 secured bonds rated AAA and RM50.0 million mezzanine Class B secured bonds rated A- on MARCWatch Negative. The RM100.0 million subordinated bonds rated C are not affected by this rating action.CapOne is a bankruptcy remote special-purpose company...

Englotechs Holding Bhd’s (Englotechs) BBB-ID rating in respect of its RM50.0 million Murabahah Medium-Term Notes Programme (MMTN) remains on MARCWatch Negative where it had been placed since April 1, 2008 pending the resolution of the breach in its Finance to Net Tangible Assets Ratio (FNR) covenant under the terms of the notes issuance. MARCWatch Negative placement continues to reflect unce...

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...

MARC has affirmed its ratings of AA-IS and MARC-1ID /AA-ID on Alam Maritim Resources Berhad’s (Alam Maritim) RM500 million Sukuk Ijarah Medium Term Notes and RM100 million Commercial Papers/Medium Term Notes facilities respectively. The affirmed rating reflects the strong profitability and cashflow generated by Alam Maritim, a leading domestic provider of offshore support services. The ratin...

MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) RM100 million nominal value of Class A, RM20 million nominal value of Class B and RM40 million nominal value of Class C Senior Sukuk Ijarah at AAAIS , AAIS and AAAIS(bg), respectively. The ratings of Class A and B Senior Sukuk Ijarah reflect the quality and diversity of the collateral properties, liquidity support provided by a no...

MARC has affirmed the ratings of Cellular Structures Sdn. Bhd.’s (CSSB) RM184.0 million Senior MUNIF/IMTN (Senior Notes) and RM8.0 million Junior IMTN (Junior Notes) at MARC-1ID/AAID  and AID  respectively. The ratings reflect the credit strength of the telecommunication companies (telcos) which are obligated to make fixed monthly rental payments for the telecommunication towers ov...

MARC has assigned a rating of AA- to CIMB Bank Berhad’s (CIMB Bank) Innovative Tier 1 Capital Securities (IT-1 Securities) with nominal value of up to RM1.0 billion. The rating, which is two notches lower than CIMB Bank’s Financial Institution Rating of AA+, reflects the subordination of the IT-1 Securities relative to unsecured senior debt and subordinated debt obligations of the bank...

MARC has affirmed the ratings of MARC-1/A+ and A+ to Radicare (M) Sdn Bhd’s (Radicare) RM100.0 million Commercial Papers/Medium-Term Notes (CP/MTN) and RM50.0 million Medium-Term Notes (MTN) facilities respectively. The ratings outlook is stable. The affirmed ratings reflect steadily rising revenues underpinned by increasing demand for hospital support services for contracted hospitals that ...

MARC has affirmed the ratings of Dura Palms Sdn Bhd’s (Dura Palms) RM100.0 million Series A; RM90.0 million Series B and RM10.0 million Series C Sukuk Ijarah at AAAIS, AAIS and AIS  respectively. The ratings affirmation of Series A and B Sukuk Ijarah are premised on the quality of the collateral; the structural protections incorporated in the transaction; and the performance of the secu...