MARC has affirmed its AA-IS and A- ratings on Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd’s (Kesturi) RM2.3 billion Sukuk Musharakah (Senior Sukuk) and RM180 million Redeemable Secured Junior Bonds (Junior Bonds) respectively with a stable outlook. The three-notch rating differential between the Senior Sukuk and Junior Bonds reflects the latter’s subordination to the Senior Sukuk in regard ...

MARC has assigned a final rating of AA- to Segi Astana Sdn Bhd’s (Segi Astana) ASEAN Green Medium-Term Notes facility (MTN facility) of up to RM415.0 million. The outlook on the rating is stable. Upon review of the final documentation of the proposed issuance, MARC is satisfied that the terms and conditions of the sukuk have not changed in any material way from the draft documentation on ...

MARC has assigned a final rating of AAAIS to CIMB Islamic Bank Berhad’s (CIMB Islamic) RM10.0 billion Sukuk Wakalah Programme (Sukuk Wakalah). 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 prelimin...

MARC has affirmed its AAA financial institution rating on Credit Guarantee Corporation Malaysia Berhad (CGC) with a stable outlook. As a development financial institution (DFI), CGC plays a public policy role to facilitate access to financing for SMEs by providing credit guarantees on loans extended by financial institutions. It is majority-owned by Bank Negara Malaysia. MARC considers these k...

MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s (Kinabalu Capital) issue of RM220 million Class A, RM40 million Class B and RM20 million Class C medium-term notes (MTN) respectively. The rating agency also affirmed its MARC-1 rating on Kinabalu Capital’s issue of up to RM280 million commercial papers (CP). The outlook on all ratings is stable Kinabalu ...

MARC has affirmed its ratings on Alpha Circle Sdn Bhd’s (Alpha Circle) Senior Sukuk Musharakah (Senior Sukuk) and Junior Sukuk Musharakah (Junior Sukuk) at AA-IS and AIS respectively. The two-notch rating differential reflects the subordination of the Junior Sukuk to the Senior Sukuk in terms of payment and security. The ratings outlook has been revised to negative from stable. The outstanding u...

MARC has assigned a preliminary rating of AAAIS to CIMB Islamic Bank Berhad’s (CIMB Islamic) proposed RM10.0 billion senior Sukuk Wakalah Programme (Sukuk Wakalah). The rating outlook is stable. The rating on the Sukuk Wakalah reflects its seniority and is equalised to CIMB Islamic’s financial institution (FI) ratings which MARC has recently affirmed at AAA/MARC-1/Stable. The Sukuk Wakalah wi...

MARC has assigned a preliminary rating of AA- to Segi Astana Sdn Bhd’s (Segi Astana) proposed 10-year ASEAN Green Medium-Term Notes facility (MTN facility) of up to RM415.0 million with a stable outlook. Concurrently, MARC has affirmed its rating of AAA(fg) with a stable outlook on Segi Astana's existing RM470.0 million Medium-Term Notes programme guaranteed by Danajamin Nasional Berhad (Danaja...

MARC has withdrawn its AAA(fg) rating/stable outlook on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million. The rating withdrawal is at the request of the issuer after obtaining its bondholders’ consent for a change in rating agency. MARC notes that KMCOB has proceeded to implement maturity extensions on the outstanding RM105.0 million under the rated bonds. ...

MARC has affirmed its AAA(fg) rating on KMCOB Capital Berhad’s (KMCOB) guaranteed serial bonds of up to RM320.0 million with a stable outlook. The rating and outlook reflect the unconditional and irrevocable financial guarantee provided by Danajamin Nasional Berhad (Danajamin), which carries MARC’s insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1. As at en...