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MARC has assigned a preliminary rating of AA- to WCT Berhad's (WCT) proposed RM1.0 billion 15-year Medium Term Notes (MTN) Programme. The rating carries a stable outlook. Concurrently, MARC has affirmed its existing debt and sukuk ratings with a stable outlook on WCT’s outstanding issuances. The list of WCT’s rated outstanding issuances is provided at the end of this announcement.The r...
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MARC has affirmed the rating of Special Port Vehicle Berhad’s (SPVB) RM1,310.0 million nominal amount asset-backed serial bonds facility at AAA with a negative outlook. The affirmed rating takes into account the satisfactory payment history of the Port Klang Authority (PKA) to date in respect of its deferred payment obligations for the land purchase and development costs of Port Klang Free Z...
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MARC has affirmed its ratings on Transshipment Megahub Berhad’s (TMB) RM1,095.0 million fixed rate serial bonds (FRSB) and up to RM360.0 million Commercial Papers/Medium Term Notes (CP/MTN) programme at AAA and MARC-1/AAA respectively. The rating outlook is revised from negative to stable to reflect the fully funded status of the debt service reserves with respect to the final principal repa...
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MARC has affirmed its long-term and short-term issue ratings of AA- and MARC-1 on WCT Berhad (WCT) with a stable outlook. A complete list of the ratings and rated issues is provided at the end of this announcement.The ratings for WCT recognise the group's near-term revenue visibility and its past demonstrated ability to respond to changing market conditions balanced against the business and financ...
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MARC has affirmed its MARC-1/AA- ratings on IJM Corporation Berhad’s (IJM) RM1.0 billion Commercial Paper/Medium Term Notes Programme (CP/MTN) with a stable outlook. The ratings action incorporates the satisfactory operating performance of its plantation, property and infrastructure segments, as well as the holding company’s broadly adequate liquidity and favourable financial flexibili...
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MARC has affirmed its rating of AAA on Gerbang Perdana CIQ Sdn Bhd’s (GPCIQ) RM1.7 billion Medium Term Notes (MTN) programme with a stable outlook. The rating action reflects the strength of the underlying payments on Government of Malaysia (GoM) issued facility payment certificates (FPC) securing the notes. Cash flows to maintain timely debt service on the rated notes depend on the GoM...
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MARC has affirmed the rating of Instacom SPV Sdn Bhd’s (ISPV) RM200 million Murabahah Medium Term Notes (MMTN) Programme at AAID. The outlook on the rating is stable. ISPV is a wholly-owned subsidiary of Instacom Engineering Sdn Bhd (IESB) set up to facilitate the issuance of the MMTN to finance the purchase of completed telecommunication towers (telco towers) constructed by IESB. The affirm...
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MARC has assigned the rating of AAA(fg) to TRIplc Ventures Sdn Bhd’s (TVSB) proposed issuance of up to RM240.0 million Senior Medium-Term Notes (MTN), with a stable outlook. The proceeds from the proposed MTN issuance will be used to partly fund a PFI/PPP (private finance initiative/public private partnership) project undertaken by TVSB. The project finance transaction is insulated from the ...
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MARC has withdrawn its A+ID rating on Makro Utama Sdn Bhd’s (Makro) RM100.0 million Al-Istisna’ Bonds with immediate effect following the early redemption of all outstanding bonds under its bond facility and cancellation of the facility on August 25, 2011 as confirmed by the facility agent, Kenanga Investment Bank Berhad. Following the rating withdrawal, MARC would cease to provide ana...
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MARC has withdrawn its rating of MARC-2ID on Prinsiptek Corporation Berhad’s (Prinsiptek) RM30.0 million Nominal Value Murabahah Commercial Papers Programme (MCP) with immediate effect. The rating withdrawal follows the full redemption of the issuance amounting to RM21.0 million under the rated facility on August 8, 2011 and concurrently the termination of the programme as confirmed by the f...
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