MARC has assigned preliminary ratings to Berjaya Land Berhad’s (BLand) proposed 10-year RM650.0 million guaranteed Medium-Term Notes (MTN) programme of AAA(fg) for the RM500.0 million portion guaranteed by Danajamin Nasional Berhad (Danajamin) guaranteed and AAA(bg) for the RM150.0 million guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia). The outlook for the ratings is stable. ...

MARC has withdrawn its rating of A on Berjaya Land Berhad’s (BLand) Secured Exchangeable Bonds with immediate effect. The rating withdrawal follows the full redemption of the outstanding RM711.0 million bonds upon maturity on August 15, 2011 as confirmed by the trustee, HSBC (Malaysia) Trustee Berhad. MARC will accordingly cease to provide analytical coverage on BLand.Contacts: Darrell Lim, ...

MARC has affirmed its A rating on Berjaya Land Berhad's (BLand) Secured Exchangeable Bonds due 2011 with the rating outlook maintained at stable. The rating action is premised on the strong collateral coverage afforded under the bond issue structure in which BLand has to maintain at least 130% collateral coverage in the form of pledged shares in its gaming subsidiary, Berjaya Sports Toto Berhad (B...

MARC has affirmed its A rating on Berjaya Land Berhad's (BLand) Secured Exchangeable bonds due 2011. Concurrently, MARC has revised the rating outlook from developing to stable to reflect reduced liquidity concerns with the expiry of bond put options substantially unexercised. The current outstanding principal amount is RM711 million, reduced from RM882.0 million since MARC's last rating action in...

MARC has affirmed its ‘A’ rating on Berjaya Land Berhad’s (BLand) Secured Exchangeable Bonds, of which RM882.0 million remains outstanding currently. Concurrently, the outlook was revised to developing from stable. MARC’s revised outlook for the rating reflects increased uncertainty posed by the exchangeable bonds’ approaching put option date of August 15, 2009 and co...

MARC has affirmed the A rating of Berjaya Land Berhad’s (BLand) five-year Secured Exchangeable Bonds (EB) with nominal value of up to RM900 million which are exchangeable into shares of leading domestic Numbers Forecast Operator (NFO), Berjaya Sports Toto Berhad (BToto). The rating outlook is stable. The rating on the EB reflects the resilient financial performance of BToto, the collateral c...

MARC has assigned a rating of A (A flat) to Berjaya Land Berhad’s (‘BLand’) proposed issuance of five-year Secured Exchangeable Bonds with nominal value of up to RM900 million. The rating reflects the strength of its associated company, Berjaya Sports Toto (“BToto”) of which the shares form the exchange property, its competitive position as the sole national lotto ope...