MARC Ratings has upgraded DRB-HICOM Berhad’s RM3.5 billion Sukuk Programme rating to AA-IS from A+IS. Accordingly, the rating outlook has been revised to stable from positive. The rating upgrade incorporates DRB-HICOM’s strengthened credit profile from the robust performance of its automotive operations in recent years, particularly its key subsidiary PROTON Holdings Berhad. Improving lev...

MARC Ratings has revised its ratings outlook on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion to positive from stable. Meanwhile, the ratings have been affirmed at A+IS and A-IS with the two-notch rating differential between the programmes reflecting the subordination of the perpetual sukuk to the senior sukuk. The outst...

MARC Ratings has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. The two-notch rating differential between both issuances reflects the latter’s subordination to the senior sukuk. All ratings carry a stable outlook. The outstanding under the programmes stood at RM2.3 billion and R...

MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme of up to RM2.0 billion. All ratings carry a stable outlook.The ratings affirmation incorporates DRB-HICOM’s continued strength in its key automotive segment that is reflected by its strong market position and steady contribution to group profitabi...

MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s Sukuk Programme of up to RM3.5 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. The ratings outlook has been revised to stable from positive.The affirmed senior sukuk rating is underpinned by our view that DRB-HICOM is better placed to withstand the impact from the COVID-19 pandemic on its fai...

MARC has assigned a final rating of A+IS with a positive outlook to DRB-HICOM Berhad’s proposed Sukuk Programme with a nominal value of up to RM3.5 billion. Upon review of the final documentation for the programme, the rating agency is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the earlier preliminary rating of A+IS wa...

MARC has assigned its rating of A+IS to DRB-HICOM Berhad’s proposed Islamic Medium-Term Notes Programme (Sukuk Programme) with a nominal value of up to RM3.5 billion. The rating outlook is positive. Concurrently, MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM’s existing Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion and Perpetual Sukuk Musharakah Programme of u...

MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion. The two-notch rating differential between the Perpetual Sukuk and the IMTN is in line with MARC’s not...

MARC has affirmed its ratings of A+IS and A-IS on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion and Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion respectively. The outlook on the ratings is maintained at stable. The affirmed ratings reflect the improving credit profile of DRB-HICOM following a 49.9% dilutio...

MARC has downgraded its rating on DRB-HICOM Berhad’s (DRB-HICOM) Islamic Medium-Term Notes (IMTN) Programme of up to RM1.8 billion to A+IS from AA-IS. Concurrently, the rating agency has lowered the rating on the Perpetual Sukuk Musharakah Programme (Perpetual Sukuk) of up to RM2.0 billion to A-IS from AIS. The outlook on all ratings has been revised to stable from negative. The rating actions ...