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MARC Ratings has assigned a final rating of A+IS to Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating is confined to a RM500.0 million issuance and any further drawdown will require a reassessment of the rating. The outlook on the rating is stable.The rating agency has reviewed the final documentation for the programme and is...
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MARC has assigned a preliminary rating of A+IS to Tan Chong Motor Holdings Berhad’s (TCMH) RM1.5 billion Islamic Medium-Term Notes (Sukuk Murabahah) Programme. The rating outlook is stable. The rating is confined to a RM500.0 million issuance and any further drawdown will require a reassessment of the rating.The assigned rating incorporates TCMH’s established presence in the domestic automotiv...
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MARC has affirmed its rating of AA-IS on Guan Chong Berhad’s (GCB) Sukuk Wakalah Programme of up to RM800.0 million with a stable outlook.The affirmed rating reflects GCB’s strong position in the midstream cocoa supply chain as the largest cocoa grinder in Asia and fourth-largest in the world, as well as its strong operational track record. Moderating the rating is cocoa price volatility...
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MARC has assigned a final rating of AA- to 7-Eleven Malaysia Holdings Bhd’s (7-Eleven Holdings) RM600.0 million Medium-Term Notes (MTN) Programme. The rating outlook is stable.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 preliminary rating was ...
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MARC has assigned ratings of AAAIS (CG) /MARC-1IS (CG) to funding vehicle F&N Capital Sdn Bhd’s (F&N Capital) Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes with a combined limit of up to RM3.0 billion. The ratings outlook is stable. F&N Capital is a wholly-owned subsidiary of Fraser & Neave Holdings Bhd (F&NHB) which has provided an unconditi...
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MARC ASSIGNS AA-/STABLE RATING TO 7-ELEVEN MALAYSIA HOLDINGS’ PROPOSED RM600.0 MILLION MTN PROGRAMME
MARC has assigned a preliminary rating of AA- to 7-Eleven Malaysia Holdings Berhad’s (7-Eleven Holdings) proposed RM600.0 million Medium-Term Notes (MTN) Programme with a stable outlook.The assigned rating mainly reflects 7-Eleven Holdings’ strong and established market position in the convenience store segment, gained from a long operating track record with a wide store network that has suppo...
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MARC has assigned a final rating of AA-IS with a stable outlook to Guan Chong Berhad’s proposed RM800.0 million Sukuk Wakalah Programme.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 preliminary rating was based. For full details of the assi...
This article has been viewed 607 times.
MARC has assigned a preliminary rating of AA-IS with a stable outlook to Guan Chong Berhad’s (GCB) proposed Sukuk Wakalah Programme of up to RM800.0 million. The proposed rating incorporates GCB’s strong market position in the midstream cocoa industry, established operational track record and healthy debt coverage metrics. The rating is constrained by the group’s inherent exposure to fluctua...
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MARC has withdrawn its rating of MARC-2ID on MM Vitaoils Sdn Bhd’s (MMV) RM45.0 million Murabahah Commercial Paper (MCP) Programme with immediate effect. The rating withdrawal follows the full redemption of outstanding notes under the programme on October 28, 2011 and the cancellation of the programme as confirmed by the facility agent. Contacts: Sabesh Parameswaran, +603-2082 2260/ sabesh@m...
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MARC has withdrawn its ratings of MARC-1ID/AID on Tomei Consolidated Berhad’s (Tomei) RM100 million Islamic Commercial Paper/Medium Term Notes (CP/MTN) Programme with immediate effect. The rating withdrawal follows the early redemption of outstanding notes on March 18, 2011 and cancellation of the facility, as confirmed by Maybank Investment Bank Berhad, the facility agent. MARC will ac...
This article has been viewed 1362 times.