Malaysian Rating Corporation Berhad (MARC) has affirmed the rating of Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit Fixed Rate Serial Bonds at BBB+(s)ID. The affirmation of the rating reflects MNI’s continued competitive strength as the sole newsprint producer in Malaysia; secured offtake commitments through newsprint offtake agreements; its low operational ...

MARC has lowered its rating on Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit Fixed Rate Serial Bonds Programme from A-(s)ID to BBB+(s)ID. The rating action reflects the impact of the decline in newsprint prices on the company’s financials. Global newsprint prices have fallen to a new historical low due to the economic slowdown and oversupply problem in North ...

The ratings of AA+ ID for Tranche I (RM370 million), A ID for Tranche II (RM50 million) and A+ ID for Tranches III (RM80 million) and IV (RM168 million) reflect the strength of irrevocable unconditional guarantees provided by a consortium of banks evaluated using the weak link approach. The BBB- rating of the non-guaranteed RM30 million Tranche V reflects the issuer’s stand-alone rating, recogn...

Malaysian Rating Corporation Berhad (MARC) has assigned an Islamic debt rating of A-ID(S) (A minus, Islamic Debt Security) to Malaysian Newsprint Industries Sdn Bhd’s (MNI) RM923 million Bai’ Bi Al-Taqsit nominal value fixed rate serial bonds programme. The rating reflects Malaysian Newsprint Industries Sdn Bhd’s (MNI) strong competitive position in the local newsprint industry, offtake ag...