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MARC RATINGS ASSIGNS FINAL RATINGS OF MARC-1IS/AAIS TO ALAM FLORA’S RM700.0 MILLION SUKUK PROGRAMMES
MARC Ratings has assigned final ratings of MARC-1IS/AAIS to Alam Flora Sdn Bhd’s RM700 million Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) programmes. The ratings outlook is stable. The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft documenta...
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MARC Ratings has revised the outlook on UiTM Solar Power Sdn Bhd’s outstanding RM192.3 million Green SRI Sukuk to stable from negative. The rating on the sukuk is maintained at A+IS.The outlook revision considers the improvement in UiTM Solar’s liquidity and cash flow coverage metrics following the full receipt of insurance proceeds of RM20.0 million in December 2022 for equipment damage and b...
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MARC Ratings has assigned a final rating of A with a stable outlook to Singer (Malaysia) Sdn Bhd’s (Singer) RM300.0 million Medium-Term Notes (MTN) Programme.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.For full det...
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MARC Ratings has assigned final ratings of MARC-1IS/AA-IS to UDA Holdings Berhad’s Islamic Commercial Papers (ICP) programme of up to RM100.0 million and Islamic Medium-Term Notes (IMTN) programme of up to RM1.0 billion with a combined aggregate limit of up to RM1.0 billion. The rating carries a stable outlook.The rating agency has reviewed the final documentation for the programme and is satisf...
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MARC Ratings has affirmed BEWG (M) Sdn Bhd’s (BEWG) RM400 million Sukuk Wakalah rating of AAIS with a stable outlook.BEWG, a 100%-subsidiary of Hong Kong-based Beijing Enterprises Water Group Limited (BEWGL), was set up to undertake water and sewerage projects in Malaysia. In November 2015, it won the Terengganu state government’s contract to refurbish and upgrade water treatment and distribut...
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MARC Ratings has withdrawn its insurer financial strength rating of AAA and counterparty credit ratings of AAA/MARC-1 on Danajamin Nasional Berhad. This follows the completion of the legal process to transfer Danajamin’s businesses and undertakings to Bank Pembangunan Malaysia Berhad effective March 1, 2023. Accordingly, bonds/sukuk rated by MARC Ratings that were guaranteed by Danajamin will ca...
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MARC Ratings has upgraded port operator Pelabuhan Tanjung Pelepas Sdn Bhd’s (PTP) RM2.15 billion Islamic Medium-Term Notes (Sukuk Murabahah Programme) rating to AAIS from AA-IS. The rating outlook is stable. The outstanding under the rated programme stood at RM2.1 billion as at March 13, 2023.The rating upgrade is premised on PTP’s strengthened credit profile, driven by higher cash flow genera...
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MARC Ratings has affirmed its ratings of AAA, AA and B- on special purpose vehicle Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings outlook is stable. Special Coral owns about 91.6% of the strata area in Queensbay Mall, an ei...
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MARC Ratings has affirmed its AA-IS rating on Sinar Kamiri Sdn Bhd’s outstanding RM200.0 million Green Sustainable and Responsible Investment (SRI) Sukuk Wakalah. The outlook on the rating is stable. The performance of Sinar Kamiri’s 49MWac solar power plant remained within expectations in 2022. Electricity generation was marginally lower than P90 projections by 1.7%, mainly due to lower ...
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MARC Ratings has assigned final ratings of MARC-1/MARC-1IS to Cagamas Berhad’s Conventional and Islamic Commercial Papers (CCP/ICP) programmes with a combined aggregate limit of RM20 billion. The ratings outlook is stable.The rating agency has reviewed the final documentation for the programmes and is satisfied that the terms and conditions have not changed in any material way from the draft doc...
This article has been viewed 296 times.