Malaysian Rating Corporation Berhad (MARC) has assigned Islamic debt ratings of MARC-1ID/AAAID (Islamic Debt) to PETRONAS Assets Sdn Bhd’s (PAssets) Al-Murabahah Commercial Papers/Medium Term Notes (CP/MTN) Programme with nominal value of up to RM500 million. The ratings reflect the credit strength of Petroliam Nasional Berhad (PETRONAS), the user of specific Assets belonging to Petronas Asse...

Malaysian Rating Corporation Berhad (MARC) has downgraded the corporate debt rating of HVD Holdings Sdn Bhd’s (HVD) RM70.0 million Revolving Underwritten Facility (RUF) to ‘D’ from MARC-4. The downgrade follows HVD’s failure to meet a scheduled principal payment of RM35.0 million, due 11 February 2002, under the RUF.The total outstanding principal under the RUF stands at RM60.0 million, w...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM1,000 million 2-year Fixed Rate Bonds and RM810 million 3-year Fixed Rate Bonds, issued on 20 February 2002. The 2-year and 3-year Fixed Rate Bonds carry an average yield of 3.302% p.a. and 3.544% p.a. respectively. The Bonds are issued to fund the purchase of mortgage loans from financial institutions, co...

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...

Malaysian Rating Corporation Berhad (MARC) has assigned a short term rating of MARC-1 (bg) (MARC 1, bank guaranteed) and long term rating of A- (bg) (Single A minus, bank guaranteed) on Kuala Sidim Berhad’s (KSB) Tranche 1-RM50 Million Guaranteed Commercial Papers/Medium-Term Notes and a short term rating of MARC-3 (MARC 3) and long term rating of BBB+ (Triple B plus) on KSB’s Tranche 2-RM50 M...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM800 million 1-month (discount) Notes issued on 30 January, 2002. The 1-month Notes carry an average discount rate of 2.718% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of industria...

MARC is pleased to announce that for the period January to December 2001, MARC had completed a total of 34 corporate debt issue ratings, valued at RM13.58 billion. Of the 34 corporate debt issues rated, 24 were Islamic private debt securities with a total value of RM10.68 billion, constituting 78.6% of the rated value. Aseambankers Malaysia Berhad topped MARC’s Lead Managers Table for 2001, in...

MARC has assigned a MARC-1(bg)/A(bg) (single A flat, bank guaranteed) rating on Pembangunan Leasing Corporation’s (PLC) Guaranteed Notes Issuance Programme comprising the issuance of Commercial Papers and Medium Term Notes. The rating reflects the strength of the unconditional and irrevocable guarantee provided by Bank Pembangunan & Infrastruktur Malaysia Berhad (BPIMB) which carries a rating o...

The affirmation on the rating of AA ID (Double AA Islamic Debt)/MARC-1 ID for Puncak Niaga (M) Sdn Bhd’s ABBA serial bonds and MuCP/MTN programme reflects the monopolistic nature of the water industry, unfaltering demand fundamentals for treated water, continued favorable project risk allocations via its concession structure, satisfactory operating performance of its water treatment plants (WTP)...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed MISC’s RM1.5 billion Murabahah Commercial Paper/Medium Term Notes Programme (2000/2005) ratings of MARC-1ID/AAAID (Islamic Debt). The affirmed ratings on MISC reflect MARC’s belief that the solid operating fundamentals of MISC’s Liquefied Natural Gas (LNG) shipping segment will provide the company with a strong ability to withstand ...