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MARC Ratings has affirmed its A+IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) outstanding RM172.3 million Green Sustainable and Responsible Investment (SRI) Sukuk. The outlook has been revised to stable from positive. UiTM Solar is a project company incorporated to develop a 50MWac solar power plant in Gambang, Pahang.The affirmed rating is underpinned by the strength of UiTM Solar’s 21...
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MARC Ratings has affirmed its AA-IS rating on toll concessionaire Lebuhraya DUKE Fasa 3 Sdn Bhd’s (DUKE 3) outstanding RM3.64 billion Sukuk Wakalah. The rating outlook has been revised to negative from stable. DUKE 3 is the concessionaire for the 32-km Setiawangsa-Pantai Expressway (SPE) that connects Middle Ring Road 2 at Wangsa Maju to Kerinchi Link adjoining the Federal Highway. SPE was ...
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MARC Ratings has affirmed its ratings on port operator Johor Port Berhad’s (JPB) Islamic Commercial Papers Programme and Islamic Medium-Term Notes (IMTN) Programme at MARC-1IS and AA-IS, and revised the outlook on the long-term rating to positive from stable. The programmes have a combined aggregate limit of RM1.0 billion and the current outstanding comprising entirely the IMTNs stands at RM600 ...
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MARC Ratings has affirmed Tenaga Nasional Berhad’s (TNB) corporate credit rating at AAA with a stable outlook. TNB’s strong credit profile reflects its monopoly on electricity transmission in Peninsular Malaysia and Sabah, its status as the largest domestic electricity producer, distributor and retailer, and the favourable incentive-based regulation framework under which it is able to rec...
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MARC Ratings has assigned a "Gold" Impact Assessment to TNB Power Generation Sdn Bhd’s (TPGSB) Sustainability Sukuk Framework that has now been expanded to encompass the development and operation of other renewable energy projects or assets, in addition to the Nenggiri Hydroelectric Power Plant Project.TPGSB will issue Sustainability Sukuk from its existing Sukuk Wakalah Programme of up to RM10 ...
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MARC Ratings has affirmed its AA-IS rating on UiTM Solar Power Dua Sdn Bhd’s outstanding RM87.0 million Green Sustainable and Responsible Investment (SRI) Sukuk with a stable outlook. UiTM Solar Power Dua owns and operates a 25MWac solar power plant in Pasir Gudang, Johor.The affirmed rating reflects the strength of the 21-year power purchase agreement between UiTM Solar Power Dua and Tenaga Nas...
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MARC Ratings has affirmed its ratings of MARC-1IS and A+IS on George Kent (Malaysia) Berhad’s RM100.0 million Islamic Commercial Papers Programme and RM500.0 million Islamic Medium-Term Notes Programme, subject to a combined limit of RM500.0 million. The rating outlook is stable. The affirmed ratings continue to reflect George Kent’s strong liquidity position and healt...
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MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.15 billion sukuk with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, which operates a combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an installed capacity of 535.715MW each) in Seberang Perai Te...
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MARC Ratings has affirmed its A+IS rating on Yinson Holdings Berhad’s RM1.0 billion Islamic Medium-Term Notes Programme (Senior Sukuk). Concurrently, the rating agency has also affirmed its A-IS rating on the group’s RM1.0 billion Subordinated Perpetual Islamic Notes Programme (Perpetual Sukuk). The two-notch rating differential between the instruments reflects the subordinated structure of th...
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MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to Malakoff Power Berhad’s RM1.2 billion Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes. The rating outlook is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documentatio...
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