MARC has revised its rating outlook to stable from developing on Tenaga Nasional Berhad's (TNB) AA+ long-term issuer rating and MARC-1ID/AA+ID Islamic debt issue ratings to reflect the utility's recent success in securing offsetting tariff increases effective July 1, 2008 to counter increases in fuel and purchased power expenses. Concurrently, MARC has reaffirmed the ratings to the following issue...

MARC has reaffirmed Tenaga Nasional Berhad’s (TNB) issuer rating of AA+. MARC has also reaffirmed its ratings on TNB’s Islamic debt facilities as follows:RM2.0 billion Al-Bai’ Bithaman Ajil Bonds rated AA+ID;RM1.5 billion Murabahah Commercial Papers and Murabahah Medium Term Notes rated MARC-1ID/AA+ID; and RM1.0 billion Al-Bai Bithaman Ajil Notes Issuance Facility rated AA+ID.The...

MARC said today that its AA+/MARC-1 ratings on Tenaga Nasional Berhad (TNB) are not expected to be affected by the utility’s recently announced dividend policy.  TNB intends to distribute between 40% and 60% of its annual free cash flow (operating cashflow less normalized capital expenditure and interest servicing) as dividends to shareholders, starting with fiscal year ending August 31...

MARC has reaffirmed Tenaga Nasional Berhad’s (TNB) issuer and corporate debt ratings. The reaffirmation of the ratings reflects TNB’s strategic and important role to Malaysia’s economy and national security and its dominant role in generation. TNB’s virtually monopolistic position in the transmission and distribution of  electricity in Peninsular Malaysia and Sabah, co...

On 9 February 2007, MARC received confirmation from HSBC (M) Trustees Berhad that TNB has fully redeemed its RM500 million Bonds on 29 December 2006. As such, MARC no longer has any rating obligation on the Bonds and the AA+ rating is hereby withdrawn.  ...

MARC has reaffirmed Tenaga Nasional Berhad’s (“TNB”) issuer rating of MARC-1/AA+, and corporate debt ratings of RM2.0 billion Al-Bai’ Bithaman Ajil Bonds at AA+ID, RM1.5 billion Murabahah Commercial Papers and Murabahah Medium Term Notes (MCP/MMTN) at MARC-1ID /AA+ID, RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility at AA+ID, and RM500 million Fixed Rate Un...

MARC has reaffirmed the ratings of Tenaga Nasional Berhad’s (TNB) private debt securities namely; RM1.5 billion Murabahah Commercial Papers and Murabahah Medium-Term Notes (2002/2009) (MARC-1ID/AA+ID); RM2.0 billion Al-Bai’ Bithaman Ajil Bonds (AA+ID); RM500 million 8-year Fixed Rate Unsecured Bonds (AA+); and RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility (AA+ID) and the utilit...

MARC has reaffirmed the ratings of Tenaga Nasional Berhad’s (TNB) private debt securities namely; RM1.5 billion Murabahah Commercial Papers and Murabahah Medium-Term Notes (2002/2009) (MARC-1ID/AA+ID); RM2.0 billion Al-Bai’ Bithaman Ajil Bonds (AA+ID); RM500 million 8-year Fixed Rate Unsecured Bonds (AA+); and RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility (MARC-1ID /AA+ID) and ...

Following the breakdown of a switchgear in the Kapar Power Station on 13 January 2005 that had brought four states in the Southern region of the Peninsula, Putrajaya and parts of Kuala Lumpur to a standstill in a five-hour power blackout, MARC will be evaluating the operational as well as financial impact on Tenaga Nasional Berhad (TNB) and Kapar Energy Ventures Sdn Bhd (KEV) pending the results o...

MARC has reaffirmed the ratings of Tenaga Nasional Berhad’s (TNB) private debt securities namely; RM1.5 billion Murabahah Commercial Papers and Murabahah Medium-Term Notes (2002/2009) (MARC-1ID/AA+ID); RM2.0 billion Al-Bai’ Bithaman Ajil Bonds (AA+ID); RM500 million 8-year Fixed Rate Unsecured Bonds (AA+); and RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility (AA+ID/MARC-1ID) and t...