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MARC has affirmed its AA+ID(bg) rating on Aras Sejagat Sdn Bhd’s (Aras Sejagat) Bank Guaranteed Sukuk Ijarah (Sukuk Ijarah) issuance of up to RM500 million in nominal value. The rating reflects the strength of the unconditional and irrevocable bank guarantee of up to RM420 million by Kuwait Finance House (Malaysia) Berhad (KFHMB). Any subsequent drawdown would require a guarantor(s) with a m...
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MARC has affirmed the AAAID(s) rating on Sarawak Specialist Hospital & Medical Centre Sdn Bhd’s (SSHMC) RM425 million Istisna’ Serial Bonds. The outlook for the rating is stable. The affirmed rating is premised on MARC’s AAA rating on Sarawak state which, through its State Financial Secretary Inc. (SFS), has executed a redeemable preference share (RPS) subscription agreement ...
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MARC has affirmed its rating on Petra Perdana Berhad’s (Petra) RM800 million Dual Currency Revolving Financing Facility at A+ and has revised the outlook on the ratings to stable from developing. The outlook revision reflects the group’s improved debt maturity profile which was the main source of concern during MARC’s previous review. Petra’s rating is supported by the cont...
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MARC has affirmed Radicare (M) Sdn Bhd’s (Radicare) ratings on its RM100.0 million Commercial Papers/Medium Term Notes (CP/MTN) and RM50.0 million Medium Term Notes (MTN) facilities at MARC-1/A+ and A+, respectively. The ratings outlook is stable. The affirmed ratings continue to reflect the group’s sustainable operating performance and debt servicing ability under a 15-year concession...
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MARC has assigned the ratings of AAAID and MARC-1ID/AAAID to Sime Darby Berhad’s (Sime Darby) new Islamic debt programmes comprising RM4.5 billion Islamic Medium Term Notes (IMTN) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) respectively with a combined limit of RM4.5 billion. The outlook on the ratings is stable.Additionally, MARC has affirmed its MARC -1...
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MARC has affirmed the short- and long-term ratings of MARC-2/A+ on Asia Brands Corporation Berhad’s (ABC) RM70.0 million Commercial Papers/Medium Term Notes (CP/MTN Programme) respectively. The outlook for the ratings is maintained at stable. The rating action is premised on ABC’s strong competitive position in the domestic baby products and ladies’ undergarment market segments, ...
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MARC has downgraded its ratings on Medi Innovation Sdn Bhd’s (MISB) RM100 million Islamic Medium Term Notes Issuance Facility (IMTN facility) and RM50 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Issuance Facility (MUNIF/IMTN) to BBBID and MARC-3ID/BBBID from AID and MARC-2ID /AID, respectively. The ratings remain on MARCWatch Negative. MISB operates a cha...
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MARC has downgraded its rating on Oilcorp Berhad’s (Oilcorp) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) to DID from MARC-4ID/CID. Concurrently, MARC has resolved the MARCWatch Negative status of the ratings. The rating action reflects Oilcorp’s failure to meet its RM20 million principal repayment due on its original sched...
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MARC has assigned preliminary ratings of AAAID and MARC-1ID/AAAID to Sime Darby Berhad’s (Sime Darby) proposed Islamic debt programmes comprising RM4.5 billion Islamic Medium Term Notes (IMTN) and RM500 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) respectively with a combined limit of RM4.5 billion. The ratings carry a stable outlook.The rating actions incorporate t...
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MARC has downgraded its ratings on Oilcorp Berhad’s (Oilcorp) RM70 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes Facility (MUNIF/IMTN) to MARC-4ID/CID from MARC-4ID/BBID, and maintains the ratings on MARCWatch Negative. The ratings were lowered in expectation of imminent default by Oilcorp on its upcoming redemption of its MUNIF/IMTN on October 7, 2009 unde...
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