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MARC Ratings has extended its MARCWatch Negative placement on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) following a rating downgrade to BBB-IS. The rating was at BBB+IS when it was first placed on negative watch on January 18, 2024. The rating action reflects MARC Ratings’ heightened concerns on YNH’s continued weak financial position, the lack of m...
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MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBB+IS from AIS and concurrently placed the rating on MARCWatch Negative.The downgrade reflects the heightened concerns on YNH’s weak liquidity position vis-à-vis its financial obligations, compounded by further delays in sale of assets that would have provided a much-n...
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MARC Ratings has downgraded its rating on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to AIS. Concurrently, the rating outlook has been revised to negative from stable.The rating actions reflect MARC Ratings’ increased concerns about YNH’s ability to generate sufficient cash flow to meet its financial obligations due to its weak business profile, character...
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MARC Ratings has affirmed its rating of A+IS on YNH Property Berhad’s (YNH) Islamic Medium-Term Notes (IMTN) Programme of up to RM700 million (Sukuk Wakalah) with a stable outlook. YNH’s established track record in the domestic property industry and low land cost that provides for healthy profitability margins remain key rating drivers. The high market value of its land parcels in Kuala L...
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MARC Ratings has assigned a final rating of A+IS to YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) of up to RM700 million with 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 preliminar...
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MARC has assigned a preliminary rating of A+IS with a stable outlook to YNH Property Berhad’s (YNH) proposed Islamic Medium-Term Notes Programme (Sukuk Wakalah) of up to RM700 million. Proceeds from the initial drawdown of about RM350 million will be utilised to repay a term loan of RM130 million and the balance to finance working capital. The preliminary rating is based on YNH’s lengthy ...
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