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MARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah Programme of up to RM10.0 billion with a stable outlook.TPGSB is a wholly-owned energy generation arm of Tenaga Nasional Berhad (TNB). It owns and operates 12 power plants and manages three power plants belonging to TNB with a total generation capacity of 15,676MW as at end-September 2023. TPGSB’...
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MARC Ratings has affirmed its AAAIS rating on TNB Power Generation Sdn Bhd’s (TPGSB) Sukuk Wakalah programme of up to RM10.0 billion with a stable outlook. Wholly owned by Tenaga Nasional Berhad (TNB), TPGSB owns and manages 14 power plants, and manages three power plants for TNB with total capacity of 15,755MW as at end-September 2022. TPGSB’s credit strength primarily reflects its sizea...
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MARC Ratings has assigned a final rating of AAAIS to TNB Power Generation Sdn Bhd’s (TPGSB) sukuk programme of up to RM10.0 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 documentation on which the preliminary rating was b...
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MARC Ratings has assigned a preliminary rating of AAAIS to TNB Power Generation Sdn Bhd’s (TPGSB) proposed sukuk programme of up to RM10.0 billion. The rating carries a stable outlook. Commencing operations on October 1, 2020, TPGSB was incorporated to assume the generation assets and liabilities of its parent Tenaga Nasional Berhad (TNB) under a group-wide transformation plan. In arriving ...
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MARC has assigned a “Gold” Sustainability Sukuk Assessment to TNB Power Generation Sdn Bhd’s (TPGSB or the Issuer) Sustainability Sukuk Framework. TPGSB, a wholly-owned subsidiary of Malaysia’s largest electricity utility Tenaga Nasional Berhad (TNB), is proposing to issue a Sustainability Sukuk to exclusively finance and/or refinance loans obtained to finance the development costs of...
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