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MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes (IMTN) Programme rating at AAIS. Concurrently, MARC has removed APSB’s rating from MARCWatch Negative where it had been placed on August 22, 2011. The rating outlook is stable. The rating action concludes MARC’s review of the issue rating initiated in August 2011 following the ear...
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MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating reflects GDC Putrajaya’s position as the sole producer and supplier of chilled water for the air-conditioning needs of all government premises and comm...
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MARC has assigned a final rating of AAAIS with a stable outlook to Projek Lebuhraya Usahasama Berhad’s (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme. Upon MARC’s review of the final documentation for its forthcoming notes issuance, MARC is satisfied that the terms and conditions of the programme have not changed in any material way from the draft documents on which the earli...
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MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to Riverson Corporation Sdn Bhd’s (Riverson) RM200 million 5-year Commercial Papers/Medium Term Notes (CP/MTN) Programme with a stable outlook. The ratings and outlook are based on the financial guarantee insurance policy extended by Danajamin Nasional Berhad (Danajamin) for the rated programme. Danajamin is currently rated AAA/stable premi...
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MARC has removed its AAID long-term rating on MTD InfraPerdana Bhd’s (MTD InfraPerdana) RM700.0 million Islamic Medium Term Notes (IMTN) Programme from MARCWatch Developing and withdraws its rating with immediate effect. The rating withdrawal follows the early redemption of MTD InfraPerdana’s IMTN Programme on November 29, 2011 as confirmed by the facility agent. The rating was placed ...
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MARC has assigned a preliminary rating of AAAIS to Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) proposed RM23.35 billion Sukuk Musharakah Programme under which the company is to issue senior secured sukuk pending final documentation review. The rating outlook is stable.PLUS Berhad is a wholly owned subsidiary of PLUS Malaysia Sdn Bhd (PLUS Malaysia), a 51:49 joint-venture company incorporated...
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MARC has assigned a final rating of AAIS with a stable outlook to ANIH Berhad’s RM2.5 Billion Senior Sukuk Musharakah Programme upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of AAIS was based. Full details on the assigned ra...
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MARC has withdrawn its B rating on Titisan Modal (M) Sdn Bhd’s (TMSB) RM738.0 million Fixed Rate Serial Bonds (FRSB) at the request of issuer. The rating withdrawal affects RM738.0 million of outstanding FRSB issued under the aforementioned facility. MARC's last rating action was on April 6, 2011 when the rating agency affirmed TMSB's standalone issue rating of B but withdrew the issuer's st...
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MARC has assigned a preliminary rating of AAIS with a stable outlook to ANIH Berhad's (ANIH) proposed RM2.5 billion Senior Sukuk Musharakah Programme (Sukuk Programme) pending final document review.ANIH is a privately owned company which was formed to acquire toll road concessions which are currently owned by MTD Prime Sdn Bhd (MTD Prime) and Metramac Corporation Sdn Bhd (Metramac) with the use of...
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MARC has affirmed its ratings on Konsortium Lebuhraya Utara – Timur (KL) Sdn Bhd’s (Kesturi) RM820 million Sukuk Musyarakah Medium Term Notes Programme (Senior Sukuk) and RM50 million Redeemable Junior Bonds (Junior Bonds) at AA-IS and A- respectively. The outlook for both ratings is maintained at stable.The ratings reflect adequate growth in vehicle traffic on the strategically locate...
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