Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to the RM750 million of 3-month Cagamas (discount) Notes and a long-term rating of AAA to the RM144 million 4-year Sanadat Mudharabah Cagamas (SMC) and RM187 million reopening of the existing 4-year Fixed Rate Bonds issued on 9 and 10 November, 2000. (An earlier tranche of 4-year Bonds was issued on 3 August, 200...

The Ringgit-denominated Infrastructure Notes issues by Bank Pembangunan dan Infrastruktur Malaysia Berhad (BPIMB) which are guaranteed by the Government of Malaysia are not rated by MARC. The Government enjoys the very highest credit standing with respect to local currency obligations due to its unique access to a wide range of resources. To service local currency-denominated debt, governments h...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM600 million reopening of the existing 2-year Fixed Rate Bonds, RM375 million reopening of the existing 3-year Fixed Rate Bonds, RM400 million reopening of the existing 4-year Fixed Rate Bonds and 250 million reopening of the existing 5-year Fixed Rate Bonds issued on 6 October 2000. (Earlier tranches of the...

Malaysian Rating Corporation Berhad (MARC) has reaffirmed the long-term and short-term issuer ratings of Cagamas Berhad at AAA (Triple A) and MARC-1 respectively.Cagamas Berhad’s (Cagamas) ratings reflect its exceptionally strong ability to meet existing financial commitments and distinctly superior quality of its portfolio of mortgages, hire purchase and leasing debts (HP&L) and Islamic house f...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to Cagamas Berhad’s RM640 million of 3-month (discount) Notes issued on 15 September, 2000. The 3-month Notes carry an average discount rate of 3.166% p.a. The Notes are issued to fund the purchase of mortgage loans from financial institutions, corporations and the Government, in addition to purchases of indu...

Malaysian Rating Corporation Berhad (MARC) has upgraded the long-term rating of Hong Leong Credit Berhad’s RM500 million redeemable unsecured bonds to BBB+ (triple B plus) from BBB-(triple B minus) previously. The rating upgrade reflects the overall improvement in the economic fundamentals surrounding its major operating divisions which in turn translated into healthier financial results for th...

Malaysian Rating Corporation Berhad (MARC) has assigned a short-term rating of MARC-1 to the RM1,600 million of 3-month Cagamas (discount) Notes and the RM110 million of 1-year Cagamas (discount) Notes, which carry an average discount rate of 2.909% p.a. and 3.122% p.a. respectively. MARC also assigned a long-term rating of AAA to the RM200 million reopening of the existing 2-year Fixed Rate Bond...

MARC today placed the DID rating of MOCCIS Trading Sdn. Bhd’s (MTSB) RM50 million Al-Bai Bithaman Ajil Debt Securities on MARCWatch with developing implications. On 24 June 2000, MTSB had failed to make a scheduled payment of RM2.9 million on its maturing Secondary Notes. Upon the receipt of notification from the Trustee that an event of default had occurred pursuant to Clause 7(a) of the Trust...

Malaysian Rating Corporation Berhad (MARC) announces that it has lowered MOCCIS Trading Sdn Bhd’s (MTSB) RM50 million Al-Bai Bithaman Ajil Islamic debt securities rating to DID. The rating had earlier been put on MARCWatch with negative implications. The rating reflects MTSB’s failure to make timely scheduled payment on the instrument issued under the Islamic-financing contract. ...

Malaysian Rating Corporation Berhad (MARC) has assigned a long-term rating of AAA to the RM337 million reopening of the existing 3-year Fixed Rate Bonds issued on 22 June, 2000. (An earlier tranche of the 3-year Bonds was issued on 14 April, 2000 bearing a coupon rate of 4.766% p.a.). The Bonds carry an average coupon rate of 4.5010% p.a.. The Bonds are issued to fund the purchase of mortgage l...