MARC has withdrawn its rating of AAAIS on Midciti Resources Sdn Bhd’s (Midciti Resources) outstanding RM880 million Islamic Medium Term Notes Programme. The rating withdrawal follows the completion of the novation of the aforementioned programme from Midciti Resources to Midciti Sukuk Berhad (MSB), a wholly-owned special purpose vehicle of KLCC Real Estate Investment Trust (KLCC REIT). The n...

MARC has affirmed its AAAIS rating on Midciti Resources Sdn Bhd’s (Midciti) outstanding RM880 million Sukuk Musharakah Islamic Medium Term Notes (IMTN) Programme. The outlook on the rating is stable. Midciti is a 76.1% indirect subsidiary of Petroliam Nasional Berhad (PETRONAS) and is the owner of the 88-storey PETRONAS Twin Towers. Rental payments from PETRONAS as the head lessee of the PET...

MARC has withdrawn its AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds (serial bonds) as well as the rating agency’s AAA(s) rating on the company’s 13-year bonds (conventional bonds) with immediate effect following the early redemption of all outstanding amounts for both the issues as confirmed by the facility agent, Maybank Investmen...

MARC has assigned a AAAIS rating to Midciti Resources Sdn Bhd’s (Midciti) proposed 10-year RM880.0 million Sukuk Musharakah Islamic Medium Term Notes programme (IMTN). The Sukuk proceeds will be primarily used to purchase the company’s existing rated debt securities and cancel the same. The Sukuk issuance will extend Midciti’s debt maturity profile and adequately address the refi...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds (serial bonds) and the AAA(s) rating on its 13-year bonds (conventional bonds). The ratings carry a stable outlook. Midciti is the owner of the PETRONAS Twin Towers which houses the corporate headquarters of Petroliam Nasional Bhd (PETRONAS). The affirmed ratings primarily refl...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8- to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds) and the AAA(s) rating on its 13-year bonds with a nominal value of up to RM1,315 million. The ratings carry a stable outlook.The affirmed ratings and the stable ratings outlook reflect the credit strength of Petroliam...

MARC has affirmed the AAAID rating on Midciti Resources Sdn Bhd’s (Midciti) 8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds) and the AAA(s) rating on its 13-year bonds with a nominal value of up to RM1,315 million. The ratings carry a stable outlook.The affirmed ratings and the stable ratings outlook reflect the credit strength of government...

MARC has reaffirmed the AAAID rating on Midciti’s 8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds) and the AAA(s) rating on its 13-year Bonds with a nominal value of up to RM1,315 million.The reaffirmed ratings and the stable ratings outlook reflect the credit strength of PETRONAS, the head lessee of the PETRONAS Twin Towers (Tower 1 and Tow...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s (Midciti) Private Debt Securities (PDS) Facilities as follows:IssueRating8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)AAAID13-year Bonds with a nominal value of up to RM1,315 million (13-year Bonds)AAA(s)The reaffirmation of the ratings which carries a stable outlook, reflects...

MARC has reaffirmed the ratings of Midciti Resources Sdn Bhd’s Private Debt Securities (PDS) Facilities as follows:Issue 7-year Secured Bai Al-Dayn Commercial Paper/Medium Term Notes Financing Programme with nominal value of up to RM1,000 million (CP/MTNs)RatingMARC-1ID/AAAIDIssue8 to 12-year Secured Bai Al-Dayn Bonds with a nominal value of up to RM1,605 million (Serial Bonds)RatingAAAIDIssue13...