MARC has assigned a final rating of AAAIS with a stable outlook to Celcom Transmission (M) Sdn Bhd's (CTX) RM5.0 billion in nominal value Sukuk Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the Sukuk Programme have not changed in any material way from the draft documents on which the earlier preliminary rating of AAAIS was based. Full d...

MARC has assigned a preliminary rating of AAAIS with a stable outlook to Celcom Transmission (M) Sdn Bhd's (CTX) proposed RM5.0 billion nominal value Sukuk Programme. Proceeds from the sukuk offering will be largely used to retire existing debt of RM4.2 billion. CTX is a core subsidiary of the Celcom Axiata Berhad (Celcom) Group, Malaysia's second largest wireless service provider.The rating refle...

MARC has assigned a final rating of AA-IS with a stable outlook to Kimanis Power Sdn Bhd’s (Kimanis) RM1.16 billion Sukuk Programme upon the receipt of final documentation for its forthcoming issuance. The terms and conditions of the Sukuk Programme have not changed in any material way from the draft documents on which the earlier preliminary rating of AA-IS was based. Full details on the as...

MARC has affirmed the ratings on Ranhill Powertron II Sdn Bhd’s (RPII) RM350.0 million guaranteed notes and RM360.0 million non-guaranteed notes issued under its RM710 million nominal value Islamic Medium Term Notes (IMTN) Programme at AAAIS(fg) and AAIS respectively. The outlook for both ratings is stable.The affirmed rating and stable outlook on the guaranteed notes reflect the credit strength...

MARC has assigned a preliminary rating of AA-IS to Kimanis Power Sdn Bhd’s (Kimanis) RM1.16 billion Sukuk Programme. The outlook on the rating is stable. Kimanis is a 60:40 joint venture between PETRONAS Gas Berhad and Sabah state-owned entity NRG Consortium (Sabah) Sdn Bhd (NRG). NRG is an indirect wholly-owned subsidiary of Sabah state’s investment arm Yayasan Sabah Group (YSG).Kiman...

MARC has affirmed its rating of AAAIS(bg) and AAAIS(fg) on Ranhill Power Sdn Bhd’s (Ranhill Power) RM300 million bank guaranteed (Tranche 1) and RM500 million Danajamin Nasional Bhd (Danajamin) guaranteed (Tranche 2) Sukuk Musharakah facility respectively. The outlook for both ratings is maintained at stable.The rating on Tranche 1 reflects the credit strength of an unconditional and irrevoc...

MARC has withdrawn its ratings on Puncak Niaga (M) Sdn Bhd’s (PNSB) issuances as follows:  IssuesCurrent RatingsOutstanding Amount(RM million)1)RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS)BBBID1,020.02)RM546.88 million Junior Notes A (A Notes)BB+328.13)RM435.0 million Redeemable Unsecured Bonds (RUB)BB+435.0Acqua SPV Bhd (ASPV), a wholly-owned subsidiary of Pengurusa...

MARC has affirmed its sukuk ratings of AA+IS  on Westports Malaysia Sdn Bhd’s (Westports) Sukuk Musyarakah (Sukuk) Programme of up to RM2.0 billion and Sukuk Musyarakah Medium  Term Notes (MTN) Programme of up to RM800 million. The rating outlook for both issues is stable.  The affirmed ratings incorporate Westports’ strategic location and strong operational track record...

MARC has affirmed its rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) at AA+ID with a stable outlook. The affirmed rating takes into account the recent improvement in KEV’s operating and financial performance, as well as the rating agency’s expectation of a very high probability of parental support from Te...

MARC has affirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AAA and the utility's Islamic debt ratings at AAAID for the following outstanding issues: i) RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility; and ii) RM2.0 billion Al-Bai’ Bithaman Ajil Bonds. The outlook is stable. The affirmed ratings continue to incorporate support uplift for TNB's obligations, deriv...