Press Releases
Displaying 1-10 of 18 results.
Thursday, Dec 29, 2022
MARC Ratings has withdrawn its rating of AAAIS on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme (Sukuk Programme). The rating action follows the completed exchange — on like-for-like terms — of the outstanding RM17.2 billion under the Sukuk Programme on December 23, 2022, with notes issued under PLUS’ new Islamic Medium-Term Notes Programme (IMTN Pro...

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Thursday, Dec 15, 2022
MARC Ratings has assigned a final rating of AAAIS(s) to Projek Lebuhraya Usahasama Berhad’s (PLUS) proposed Islamic Medium-Term Notes (IMTN) Programme of up to RM25.2 billion. The rating carries a stable outlook. 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 document...

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Monday, Nov 21, 2022
MARC Ratings has assigned a preliminary rating of AAAIS(s) to Projek Lebuhraya Usahasama Berhad’s (PLUS) proposed Islamic Medium-Term Notes Programme (IMTN) of up to RM25.2 billion. The rating agency has concurrently affirmed its AAAIS rating on the outstanding RM17.2 billion under PLUS’ existing Sukuk Musharakah programme. All ratings carry a stable outlook. Of the proposed IMTN, RM17.2 ...

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Tuesday, Dec 21, 2021
MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme with a stable outlook. The outstanding currently stands at RM17.9 billion.The rating benefits from a two-notch uplift to PLUS’ standalone rating to reflect our view of strong government linkages exhibited in the interdependence between default events for the rated sukuk and...

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Friday, Dec 18, 2020
MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme, concurrently removing the rating from MARCWatch Developing where it had been placed since January 24, 2020. The rating outlook is stable. The rating action is premised on MARC’s view that as long as the protracted negotiations between the government and the toll conce...

This article has been viewed 429 times.
Friday, Oct 23, 2020
MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. The MARCWatch extension continues to reflect the pending outcome of the ongoing negotiations on toll restructuring between the toll concessionaire and the government. Negotiations between the parties have dragged on for longer than expected. MARC, ne...

This article has been viewed 484 times.
Friday, Jul 24, 2020
MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. This rating action follows from the previous rating actions in January and April 2020. The MARCWatch extension continues to reflect the pending outcome of the ongoing negotiations on toll restructuring between the toll concessionaire and the government.Th...

This article has been viewed 445 times.
Friday, Apr 24, 2020
MARC has extended its MARCWatch Developing placement on Projek Lebuhraya Usahasama Berhad’s (PLUS) RM23.35 billion Sukuk Musharakah Programme. This rating action follows from the initial rating action in January 2020 which placed PLUS’ sukuk programme on watch. The sukuk programme carried a AAAIS/Stable rating prior to the MARCWatch placement which was precipitated by a government an...

This article has been viewed 600 times.
Friday, Jan 24, 2020
MARC has placed Projek Lebuhraya Usahasama Berhad’s (PLUS) AAAIS/Stable rating on its RM23.35 billion Sukuk Musharakah Programme on MARCWatch Developing. The rating action has been triggered by the recent government announcement on PLUS with the aim to reduce the toll burden on the Rakyat and relieve the government of compensation pressures. Achieving these objectives, however, will neces...

This article has been viewed 694 times.
Monday, Mar 25, 2019
MARC has affirmed its AAAIS rating on Projek Lebuhraya Usahasama Berhad's (PLUS) RM23.35 billion Sukuk Musharakah Programme (sukuk). Concurrently, the rating outlook has been revised to stable from negative. PLUS is the toll concessionaire of five major highways in Malaysia, of which the 772-km North-South Expressway (NSE) is its key highway in terms of revenue generation. The outlook revisi...

This article has been viewed 674 times.