MARC has affirmed the ratings of AAA(bg) and MARC-1(bg) to Mega Palm Sdn Bhd’s (MPSB) Bank Guaranteed Medium-Term Notes (BG MTN) of up to RM70.0 million and Bank Guaranteed Commercial Papers (BG CP) of up to RM80.0 million respectively with stable outlook. The ratings reflect the strength of the unconditional and irrevocable bank guarantee provided by Malayan Banking Berhad (Maybank). Mayban...

MARC has lifted its MARCWatch Developing placement on Equine Capital Berhad (Equine Capital)’s ratings of A-/MARC-2 of up to RM95 million Commercial Papers/Medium Term Notes (“CP/MTN”).The original MARCWatch placement was made following confirmation from the issue’s trustee that a breach in the Debt Service Coverage Ratio (“DSCR”) had occurred as at March 31, 20...

MARC has downgraded the ratings of Intelbest Corporation Sdn Bhd’s (ICSB) RM110.0 million Bai Bithaman Ajil Bonds (BaIDS) and RM50.0 million Murabahah Notes Issuance Facility (MUNIF). The ratings on ICSB’s Series 1 BaiDS of RM20.0 million, Series 2 BaIDS of RM35.0 million and Series 3 BaIDS of RM55.0 million have been downgraded to B+ ID from BBB+ ID and BBB ID respectively; whilst the...

MARC’s A-/MARC-2 ratings on Equine Capital Berhad’s (ECB) Commercial Papers/Medium Term Notes Programme remain on MARCWatch Developing where they had been placed by MARC on April 18, 2007. The original MARCWatch placement was made following confirmation from the issue’s trustee that a breach in the Debt Service Coverage Ratio (“DSCR”) had occurred as at March 31, 2006...

MARC said today that its A+ID and MARC-1ID ratings on Sunrise Berhad’s (“Sunrise”) long and short term Islamic debt ratings are not affected by the cancellation of the underwriting commitment for the Murabahah Notes Issuance Facility/Islamic Medium Term Notes Facility (“MUNIF/IMTN”) and the disposal of Plaza Mont’ Kiara with respect to the following MARC-rated i...

MARC has extended the MARCWatch Negative placement on the following ratings of Intelbest Corporation Sdn Bhd (“Intelbest”) which had been placed on MARCWatch Negative since 23 January 2007:RM20.0 million Series 1 BaIDS  BBB+IDRM35.0 million Series 2 BaIDS  BBBIDRM55.0 million Series 3 BaIDS  BBBIDRM50.0 million MUNIF  MARC-3 IDThe ratings remain on MA...

MARC has assigned the ratings of AAAID(bg) and MARC-1ID(s) to the proposed issuance of Arapesona Development Sdn Bhd’s (Arapesona) Islamic Bank Guaranteed Medium-Term Notes (IMTN) Programme of up to RM200.0 million and Islamic Commercial Papers (ICP) Programme of up to RM70.0 million respectively. The outlook of the ratings is stable. Arapesona is a 50:50 joint venture formed by UEM Land Sdn...

MARC has affirmed the ratings of Aragorn ABS Berhad’s (Aragorn) RM60.0 million Senior Class A CPs/MTNs, RM10.0 million Senior Class B CPs/MTNs (Senior Class CPs/MTNs), RM20.0 million Subordinated Class C MTNs and RM25.0 million Subordinated Class D MTNs (Subordinated Class MTNs) at MARC-1/AAA, MARC-1/AA, BB and B, respectively.  The ratings reflect the quality of the property; the stron...

MARC has reaffirmed the ratings of Ample Zone Berhad’s Sukuk Al-Ijarah (Sukuk) Class A of RM50 million and Class B of RM25 million at AA+ID  and AID respectively. However, the RM75.0 million Class C Sukuk has been downgraded to BB- ID from BBID. The ratings of Class A and Class B Sukuk reflects the collateral backing the Sukuk; loan-to-values (LTV) which were within MARC’s accepta...

MARC has placed its A- / MARC-2 ratings on Equine Capital Berhad’s (“ECB”) Commercial Papers / Medium Term Notes Programme on MARCWatch Developing. The MARCWatch placement follows a recent confirmation from the issue’s trustee that a breach in the Debt Service Coverage Ratio (“DSCR”) had occurred as at March 31, 2006. This confirmation from the trustee comes a y...