MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding RM1.15 billion sukuk with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd, which operates a combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an installed capacity of 535.715MW each) in Seberang Perai Te...

MARC Ratings has affirmed its AAAIS  rating on TNB Northern Energy Berhad’s outstanding sukuk of RM1.22 billion with a stable outlook. TNB Northern is the funding vehicle for TNB Prai Sdn Bhd (TNB Prai), which operates a 1,071.43MW combined-cycle gas turbine power plant (comprising two power generation units — Unit 10 and Unit 20 — with an installed capacity of 535.715MW each) in S...

MARC Ratings has affirmed its AAAIS rating on TNB Northern Energy Berhad’s outstanding sukuk of RM1.32 billion with a stable outlook.The rating and outlook are equalised to Tenaga Nasional Berhad’s (TNB) corporate credit rating of AAA/stable, primarily based on the strength of the commitment TNB has extended through an unconditional and irrevocable rolling guarantee to fund any shortfalls in t...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding sukuk of RM1.35 billion with a stable outlook. TNB Northern is the funding vehicle for its parent TNB Prai Sdn Bhd to develop and operate the 1,071.43-MW combined-cycle gas turbine (CCGT) power plant in Seberang Perai Tengah, Penang. TNB Prai, which is an indirect wholly-owned subsidiary of Tenaga Nasio...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad’s (TNB Northern) outstanding Islamic securities (sukuk) of RM1.415 billion. The rating carries a stable outlook. TNB Northern is a funding vehicle of TNB Prai Sdn Bhd which owns and operates a 1,071.43-MW combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang under a 21-year power purchase agreement (PPA) with...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's outstanding Islamic securities (sukuk) of RM1.475 billion with a stable outlook. TNB Northern Energy is a wholly-owned subsidiary of TNB Prai Sdn Bhd and was set up to construct a 1,071.43-MW combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang. TNB Prai in turn is 100%-owned by Tenaga Nasional Berhad (TNB,...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) outstanding Islamic securities (sukuk) of RM1.535 billion with a stable outlook. The rating and outlook are equalised with those of TNB Northern Energy’s ultimate parent, Tenaga Nasional Berhad (TNB) on which MARC currently has a senior unsecured rating of AAA/Stable. The rating equalisation is based on fin...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) outstanding Islamic securities (sukuk) of RM1.595 billion with a stable outlook. TNB Northern Energy is a funding vehicle of its parent TNB Prai Sdn Bhd (TNB Prai), a wholly-owned subsidiary of Tenaga Nasional Berhad (TNB), for the construction of a 1,071.43-megawatt combined-cycle gas turbine power plan...

MARC has affirmed its AAAIS rating on TNB Northern Energy Berhad's (TNB Northern Energy) Islamic securities (sukuk) of RM1.625 billion with a stable outlook. TNB Northern Energy was established to finance and develop a 1,071.43-megawatt combined-cycle gas turbine power plant in Seberang Perai Tengah, Penang, under a 21-year power purchase agreement (PPA) with offtaker Tenaga Nasional Berhad (TNB)...

MARC has received confirmation from TNB Northern Energy Berhad (TNB Northern Energy) that its power plant achieved commercial operation date (COD) on February 20, 2016 following a delay from the initial COD on January 1, 2016. TNB Northern Energy has received the Commissioning Test Certificate from the Energy Commission. MARC views TNB Northern Energy’s achievement of plant COD as an impo...