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MARC has withdrawn its rating of AAA on Gerbang Perdana CIQ Sdn Bhd’s RM1.7 billion Medium Term Notes (MTN) with immediate effect. The rating withdrawal follows the redemption of the outstanding RM14.7 million notes under the rated facility on November 9, 2012 and concurrently the termination of the programme as confirmed by the facility agent.Contacts: Taufiq Kamal, +603-2082 2251/ taufiq@m...
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MARC has affirmed the rating of Gerbang Perdana CIQ Sdn Bhd’s (GPCIQ) RM1.7 billion Medium Term Notes (MTN) programme at AAA with a stable outlook. The rating action affects RM14.7 million of outstanding notes under the programme. The notes are backed by facility payment certificates (FPCs) issued by the Government of Malaysia (GoM) with very strong collection history. The FPCs represent the...
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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 Gerbang Perdana CIQ Sdn Bhd’s (GPCIQ) RM1.7 billion Medium-Term Notes (MTN) Programme at AAA. The rating carries a stable outlook. The MTNs are fully secured by Facility Payment Certificates (FPC) issued by the government in lieu of payment of construction receivables relating to the construction of the new integrated Customs, Immigration and Quarantine (CIQ) ...
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MARC has affirmed the rating of Gerbang Perdana CIQ Sdn Bhd’s (GPCIQ) RM1.7 billion 7-year Medium-Term Notes (MTN) Programme at AAA. The notes are fully collateralised by post-construction receivables of the Government of Malaysia (GOM) related to the construction of the integrated Customs, Immigration and Quarantine (CIQ) Complex project in Johor Bahru (JB). Accordingly, the affirmed rating...
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MARC has affirmed the AAA rating of Gerbang Perdana CIQ Sdn Bhd’s (Gerbang Perdana CIQ) RM1.7 billion Seven Year Medium-Term Notes (MTN) Programme. Gerbang Perdana CIQ, a special-purpose vehicle wholly owned by Gerbang Perdana Sdn Bhd (GPSB), was incorporated to raise financing for its parent company against payment certificates issued by the Government of Malaysia (GOM) in respect of a proj...
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MARC has reaffirmed the AAA rating of Gerbang Perdana CIQ Sdn Bhd’s (Gerbang Perdana CIQ) RM1.7 billion Seven Year Medium-Term Notes (MTN) Programme. The rating carries a stable outlook. The rating reflects the credit quality of receivables from the Government of Malaysia (GOM) in respect of Facility Payment Certificates (FPCs) issued in connection with the construction of an Integrated Cust...
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Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium-Term Notes (“MTN”) issuance programme rating has been reaffirmed at AAA by MARC. The rating carries a stable outlook. The rating reflects the strength of the sole off-taker, The Government of Malaysia (“GOM”) vide its unconditional and irrevocable obligation to repay stip...
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Gerbang Perdana CIQ Sdn Bhd’s (“Gerbang Perdana CIQ”) RM1.7 billion Seven Year Medium-Term Notes (“MTN”) issuance programme rating has been affirmed at AAA by MARC. The rating signifies the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to repay the acknowledged sum on the stipulated date stated on Facility Payment Certific...
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MARC has assigned a rating of AAA to Gerbang Perdana CIQ Sdn Bhd’s proposed RM1.7 billion Seven Year Medium Term Notes issuance programme. The rating reflects the Government of Malaysia’s (“GOM”) unconditional and irrevocable obligation to pay the acknowledged sum on the stipulated date stated on the Facility Payment Certificate (“FPC”). Each FPC will then be assigned to each tranche o...
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