MARC has withdrawn its A+ID rating on Zecon Toll Concessionaire Sdn Bhd’s RM60.0 million Bai Bithaman Ajil Islamic Debt Securities (BaIDS) with immediate effect, following confirmation by Affin Investment Bank Bhd, the Facility Agent, that the BaIDS has been fully redeemed on May 7, 2009. Contacts: Ahmad Zaidi Basri 03-2090 2268 / zaidi@marc.com.my; Khairul Emran Mahmud 03-2090 2278 / emran@...

MARC has affirmed its rating of A+ID on Zecon Toll Concessionaire Sdn Bhd’s (ZTC) RM60.0 million Bai-Bithaman Ajil Islamic Debt Securities (BaIDS), and revised the outlook on the rating to negative from stable. ZTC is the concession holder of the Tun Salahuddin Bridge, a 339-metre toll bridge over Sarawak River, located in Kuching, Sarawak’s state capital. Since the rating was last aff...

MARC has affirmed the rating of A+ID of Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating carries a stable outlook. ZTC’s revenue generating asset is the Tun Salahuddin Bridge in Sarawak.The rating reflects the satisfactory traffic and revenue profile of the bridge relative to debt service un...

MARC has assigned a rating of A+ID (Islamic Debt) to Zecon Toll Concessionaire Sdn Bhd’s (“ZTC”) proposed issuance of RM60 million Bai-Bithaman Ajil Islamic Debt Securities (“BaIDS”). The rating reflects the strategic importance of the Tun Salahuddin Bridge (“the Bridge”) as an integral part of the Sarawak Government’s infrastructure development prog...