MARC has assigned a rating of AA+ID(bg) to Aras Sejagat Sdn Bhd’s (“ASSB”) Bank Guaranteed Islamic Medium-Term Notes (“BG IMTN”) of up to RM500.0 million. ASSB is a wholly-owned subsidiary of AirAsia Berhad (“AirAsia” or “the company”) and is a special purpose vehicle created to facilitate the issuance of the BG IMTN. The rating of the BG IMTN ...

MARC has assigned a rating of AA+ID(bg) to Aras Sejagat Sdn Bhd’s (“ASSB”) Bank Guaranteed Islamic Medium-Term Notes (“BG IMTN”) of up to RM500.0 million. ASSB is a wholly-owned subsidiary of AirAsia Berhad (“AirAsia” or “the company”) and is a special purpose vehicle created to facilitate the issuance of the BG IMTN. The rating of the BG IMTN ...

MARC has affirmed AmInvestment Bank Berhad’s (AmInvestment) financial institution ratings of AA-/MARC-1. The ratings outlook is stable. The rating affirmation acknowledges AmInvestment’s sustainable franchise value, stable asset quality, high operating efficiency and sound risk management practices, as well as the very competitive environment for investment banking. The ratings incorpo...

MARC has upgraded the rating of Ample Zone Berhad’s Sukuk Al-Ijarah (Sukuk) Class B of RM13.3 million from AIS to AA+IS and affirmed the rating of the RM75.0 million Class C Sukuk at BB-IS. The rating upgrade of Class B Sukuk reflects improvement in collateral value backing the Sukuk following the recent full redemption of Class A Sukuk as reflected in a significantly lower loan-to-value (LT...

MARC has upgraded the ratings on Hong Leong Financial Group Berhad’s (HLFG) RM800 million commercial papers and medium term notes (CP/MTN) facilities [2007 to 2014], and RM300 million CP/MTN facilities [2002 to 2009] to AA-/MARC-1 from A+/MARC-1. The ratings outlook is stable. The upgrade reflects the consistent and improving profitability of the financial services group which has allowed HL...

MARC has reaffirmed the ratings of CapOne Bhd’s (CapOne) RM600.0 million Super Senior Class A-1 bonds and RM250.0 million Senior Class A-2 bonds at AAA and downgraded RM50.0 million Mezzanine Class B bonds and RM100.0 million subordinated secured bonds from AA to A- and B to C respectively. At the same time, the ratings were removed from MARC Watch, where they had been placed on March 28, 20...

MARC has reaffirmed its A rating on Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS). The rating carries a developing outlook.The rating is reaffirmed based on strong water demand in the state of Johor, and the predictable income streams of its wholly-owned subsidiary, Southern Water Corporation Sdn Bhd (SWC) and 49% owned associated ...

MARC has assigned the ratings of MARC-1ID/AAID and A+ID to Serrisa Sinar Berhad’s (SSB) RM200 million ICP/IMTN notes (Senior Notes) and RM20 million Junior IMTN (Junior Notes) (collectively, ICP/IMTN Facility). The ratings of the Senior Notes reflect the credit quality of the rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID/AAID. Th...

MARC has assigned its MARC-1ID/AA-ID ratings to WCT Engineering Berhad’s (WCT) RM300 million Islamic Commercial Papers / Islamic Medium-Term Notes Programme (ICP/IMTN). The rating outlook is stable. Proceeds from the issuance will be used for capital expenditure, general working capital requirements and to redeem any outstanding bonds issued in 2005. This issuance follows a recent RM300 mill...

MARC has removed its MARCWatch Negative ratings on Evermaster Group Berhad’s (“EGB”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) where they had been placed on July 13, 2007 and downgraded its long-term and short-term ratings on the BaIDS and MONIF from A-I...