MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The rating is mainly driven by UiTM Solar’s 21-year power purchase agreement (PPA) with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company wil...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green Sustainable and Responsible Investment (SRI) Sukuk of up to RM240.0 million. The rating outlook is stable. The affirmed rating is mainly driven by UiTM Solar’s 21-year power purchase agreement with Tenaga Nasional Berhad (TNB) under which the demand risk is largely eliminated as the national power company...

MARC has affirmed its AA-IS rating on UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is the project owner of a greenfield solar power plant with a capacity of 50MWac in Gambang, Pahang. The project is 94.0% completed as at November 7, 2018, according to the independent consulting engineer and is expected to ...

MARC has assigned a final rating of AA-IS to UiTM Solar Power Sdn Bhd’s (UiTM Solar) Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Green SRI Sukuk have not changed in any material way from the draft documentation on which the earlier preliminary rati...

MARC has assigned a preliminary rating of AA-IS to UiTM Solar Power Sdn Bhd’s (UiTM Solar) proposed Green SRI Sukuk of up to RM240.0 million. The outlook on the rating is stable. UiTM Solar is 98% owned by UiTM Energy & Facilities Sdn Bhd (UiTM Energy), a wholly-owned subsidiary of UiTM Holdings Sdn Bhd (UHSB) which in turn is wholly owned by Universiti Teknologi Mara (UiTM), a higher l...