MARC has affirmed its AAAIS(fg) rating on Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme with a stable outlook. The affirmed rating and outlook are based on the unconditional and irrevocable financial guarantee insurance provided by Danajamin Nasional Berhad (Danajamin) on which MARC has issued an insurer financial strength rating of AAA/stable and long-ter...

MARC has assigned a final rating of AAAIS(fg) to Malaysia Steel Works (KL) Bhd’s (Masteel) RM130.0 million Sukuk Ijarah Programme. The outlook on the rating is stable. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rating o...

MARC has assigned a preliminary rating of AAAIS(fg) to Malaysia Steel Works (KL) Bhd’s (Masteel) proposed RM130.0 million Sukuk Ijarah Programme with a stable outlook. The assigned rating and outlook are based on the unconditional and irrevocable financial guarantee insurance provided by Danajamin Nasional Berhad (Danajamin) on which MARC has an insurer financial strength rating of AAA/stable a...

MARC has assigned final ratings of MARC-1IS/AA-IS with a stable outlook to Serba Dinamik Holdings Berhad’s (Serba Dinamik) proposed RM500 million multi-currency Islamic Commercial Papers Programme and RM1.5 billion Islamic Medium-Term Notes Programme (collectively, the Sukuk Wakalah programmes) with a combined limit of RM1.5 billion. Upon review of the final documentation for the programm...

MARC has assigned preliminary ratings of MARC-1IS/AA-IS with a stable outlook to Serba Dinamik Holdings Berhad’s (Serba Dinamik) proposed RM500 million multi-currency Islamic Commercial Papers Programme and RM1.5 billion Islamic Medium-Term Notes Programme (collectively, the Sukuk Wakalah Programmes) with a combined limit of RM1.5 billion. Serba Dinamik is expected to make a first issuance of u...

MARC has withdrawn its AAAIS(fg)/Stable rating on Antara Steel Mills Sdn Bhd’s RM300.0 million Danajamin-guaranteed Sukuk Mudharabah programme. The rating withdrawal follows the final redemption of the outstanding amount of RM60.0 million upon the expiry of the programme on June 28, 2018, as confirmed by the facility agent. Upon the withdrawal, MARC will no longer provide analytical covera...

MARC has affirmed its rating of AAAIS(fg) on Antara Steel Mills Sdn Bhd’s (Antara) RM300.0 million Sukuk Mudharabah Programme with a stable outlook. The affirmed rating and outlook are based on the unconditional and irrevocable financial guarantee insurance provided by Danajamin Nasional Berhad (Danajamin) on which MARC has an insurer financial strength rating of AAA/stable and long-term counte...

MARC has affirmed its rating of AAAIS(fg) on Antara Steel Mills Sdn Bhd’s (Antara) RM300.0 million Sukuk Mudharabah Programme with a stable outlook. The affirmed rating and outlook are underpinned by the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) which carries a financial insurer strength rating of AAA/stable from MARC.  Antar...

MARC has affirmed its rating of AAAIS(fg) on Antara Steel Mills Sdn Bhd’s (Antara) RM300.0 million Sukuk Mudharabah Programme with a stable outlook. The affirmed rating and outlook are underpinned by the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin) which carries MARC’s financial strength rating of AAA with a stable outlook. Antara’...

MARC has withdrawn its BBB rating on Press Metal Berhad’s outstanding 2011/2019 Redeemable Convertible Secured Loan Stocks (RCSLS). Press Metal had issued RM320.5 million RCSLS in 2011 and as at February 12, 2015, the outstanding amount stood at RM2.2 million. The rating withdrawal follows the early redemption of the outstanding amount and cancellation of the same on March 18, 2015.  U...