MARC has downgraded the long-term ratings of Aegis One Bhd’s (Aegis One) RM900.0 million senior secured bonds and RM100.0 million subordinated secured bonds from AAA and BB to AA and B respectively. The downgrades are premised on the decline in the weighted average rating of Aegis One’s portfolio of corporate loans to BBB/BBB- from A-/BBB+ following the default of two obligors in the p...

MARC has assigned MARC-1ID for Sunrise’s Islamic Commercial Paper issuance programme and A+ID for Islamic MTN issuance programme with value of up to RM150 million. The ratings reflect Sunrise’s good financial track record with operating margins averaging 23% in the last four years, low debt leverage position and good financial flexibility. The assigned ratings were also underpinned by ...

MARC has affirmed EP Manufacturing Berhad’s (EPMB) short and long term ratings of MARC-2ID/AID respectively on its RM150.0 million MUNIF/IMTN; reflecting the Group’s position as a Tier-1 parts vendor for the national carmaker, Proton Holdings Berhad (Proton) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), via its subsidiary; PEPS-JV (M) Sdn Bhd (PEPS-JV). Moderating factors include it...

MARC has assigned the ratings of MARC-1ID/AAID to Cellular Structures Sdn. Bhd. (CSSB) RM184.0 million Senior MUNIF/IMTN under a RM192.0 million MUNIF/IMTN and IMTN Facility (Facility).  The ratings reflect the exclusive rights given to Konsortium Jaringan Selangor Sdn. Bhd. (KJS) to construct and manage the telecommunication towers and structures in the State of Selangor; the licensing agree...

MARC has downgraded the ratings of Ample Zone Berhad’s (AZB) Sukuk Al-Ijarah comprising of RM50 million Class A Sukuk, RM25 million Class B Sukuk and RM75 million Class C Sukuk (Sukuk) from AAAID, AAID and AID to AA+ID, AID and BBID, respectively. The ratings reflect the deterioration of AZB’s cash flow resulting from the non rental payment from subsidiaries of Talam Corporation Berhad...

The ratings of Atlan Holdings Bhd’s (Atlan) RM90 Million Murabahah Underwritten Notes Issuance Facility/Islamic Medium-Term Notes (MUNIF/ IMTN) and RM40 million Al’-Bai Bithaman Ajil Islamic Debt Securities (BaIDS) facilities have been reaffirmed at MARC-2ID/AID and AID respectively. The reaffirmation of the ratings reflects Atlan’s focus and strength in its respective core busin...

The rating of Reliance Pacific Berhad’s (“RPB” or “the Group”) RM100 million Redeemable Secured Bonds (2001/2006) has been reaffirmed at A- (A minus). Underpinning the rating is the expected sustained growth in the travel and tourism industry and the group’s overall improved financial profile. The rating, however, is moderated by RPB’s reasonably high debt...

MARC has affirmed the ratings of A+ID and MARC-2ID/A+ ID on Konsortium Lapangan Terjaya Sdn Bhd’s (“KLT”) RM380.0 million Bai Bithaman Ajil Medium-Term Notes (“BBA MTN”) and up to RM80.0 million Murabahah Commercial Papers/Medium-Term Notes Programme respectively (“MCP/MTN”) (collectively known as “Finance Facilities”). The ratings reflect, amo...

Pembangunan Leasing Corporation Sdn Bhd’s (PLC) Guaranteed Notes Issuance Programme (GNIP) rating is upgraded from MARC-1/A(bg) to MARC-1/A+(bg) to reflect the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan Malaysia Berhad or BPMB (formerly known as Bank Pembangunan & Infrastruktur Malaysia Berhad). BPMB’s A+ rating from MARC reflects the impro...

MARC has affirmed YPJ Oil Palm Estate Sdn Bhd’s (YPJOPE) RM180 million Guaranteed Commercial Papers rating at MARC-1 (bg). The affirmation reflects the unconditional and irrevocable guarantee provided by a consortium of financial institutions comprising Affin Merchant Bank Berhad, Affin Bank Berhad and Bumiputra-Commerce Bank Berhad.YPJOPE is principally involved in the cultivation and manag...