MARC has received the confirmation from the Facility Agent that CNLT’s GRUNIF Notes have been refinanced by the RM60.0 million Bank Guaranteed Al Murabahah Commercial Papers/ Medium Term Notes Issuance Programme on the 10th April 2003. Hence, MARC no longer has any rating obligation on CNLTS’s GRUNIF Facility and the MARC -1 (bg) rating is hereby withdrawn. ...

The rating of MARC-1(bg)/ A- (bg) assigned to CNLT (Far East) Bhd’s RM60 million Proposed Bank Guaranteed CP/ MTN reflects the strength of the unconditional and irrevocable bank guarantees provided by a consortium of financial institutions which consist of Aseambankers, Malayan Banking Berhad, Bumiputra Commerce Berhad and EON Bank Berhad to guarantee the nominal value of the BG CP/MTN. The rati...

The rating of CNLT (Far East) Bhd’s RM50 million Syndicated Guaranteed Revolving Underwritten Notes Issuance Facility (GRUNIF) has been upgraded to MARC-1 (bg). The notes are secured against unconditional and irrevocable bank guarantees in respect of the redemption of up to the face value of the notes issued. The rating reflects the superior capacity of the bank guarantors to meet their financi...

Malaysian Rating Corporation Berhad has reaffirmed KFC Holdings (Malaysia) Bhd’s (KFCH) corporate debt rating of A+ID (A plus, Islamic Debt). The reaffirmation reflects the Group’s above-average business and operation fundamentals and strong financials backed by a proven track record. A moderating factor to the rating is the risk profile of the food-related industry characterized by strong co...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term corporate debt rating of MARC-2ID (Islamic Debt) to Motosikal Dan Enjin Nasional Sdn Bhd’s (MODENAS) RM80 million Murabahah Underwritten Notes Issuance Facility (MUNIF). The rating reflects MODENAS’ strong market position in the 4-stroke segment of the motorcycle industry; Government’s support in the form of tariff protecti...

MARC re-affirmed its AAA(bg) rating on Sinmah’s RM50 million redeemable bond issue due 2002, guaranteed by Cooperatieve Centrale Raifesen-Boereenleenbank B.A. of Nederlands (Rabobank). The rating reflects the strength of the unconditional and irrevocable guarantee provided by Rabobank, which has a rating of ‘AAA’ from Fitch. Meanwhile on the underlying rating of the issue, Sinmah’s financi...

The rating of CNLT (Far East) Bhd’s existing GRUNIF has been rationalized to MARC-2 (bg) following the completion of the merger of financial institutions within the consortium of bank guarantors. The notes are secured against unconditional and irrevocable bank guarantees in respect of the redemption of up to the face value of the notes issued. The rating reflects the strength of the bank guara...

KFC Holdings (Malaysia) Bhd’s (KFCH) rating of A+ID (single A plus, Islamic Debt) in respect of its RM300 million Islamic Notes Issuance Facility (INIF) reflects the Group’s above-average business and operation fundamentals and strong financials backed by a proven track record. A moderating factor to the rating is the risk profile of the food-related industry characterized by strong competit...

Malaysian Rating Corporation Berhad (MARC) today announced that it has affirmed the long term rating of AAA(bg) on Sinmah Resources Berhad’s RM50 million nominal amount of 3.5% redeemable bonds due 2002, guaranteed by Rabobank Nederland Labuan Branch. The rating reflects the strength of the unconditional and irrevocable guarantee provided by Rabobank, which has a rating of ‘AAA’ from Thomson...

Malaysian Rating Corporation Berhad (MARC) has assigned a rating of MARC-3 (bg) to CNLT (Far East) Berhad’s (CNLT), RM50 million syndicated bank guaranteed revolving underwritten notes issuance facility. The rating reflects the strength of the unconditional and irrevocable bank guarantees provided by a consortium of banks, based on the weakest link approach. CNLT’s own financial capacity to m...