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MARC has downgraded the long-term ratings to A+ID from AA-ID, and revised the outlook of the ratings to developing from stable and concurrently affirms the short-term ratings at MARC-1ID for the following rated programmes/issuers:RM300.0 million Murabahah Underwritten Notes Issuance Facility (MUNIF)/Islamic Medium Term Notes (IMTN) Programme of KNM Capital Sdn Bhd (KNM Capital); andRM400.0 mi...
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MARC has downgraded its ratings on Maxtral Industry Berhad's (Maxtral) RM80.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20.0 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities to BBID and MARC-4ID/BBID from BBB-ID and MARC-4ID/BBB-ID respectively. The ratings continue to be maintained on MARCWatch Negative. The rating a...
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MARC has affirmed the ratings of ABS Logistics Berhad’s (ALB) Senior Sukuk comprising RM100 million of Class A, RM20 million of Class B and RM40 million of Class C Sukuk at AAAIS, AAIS and AAAIS(bg) respectively. The outlook on the ratings for the Class A and B Sukuk has been revised to negative from stable. The revision in outlook reflects increasing concerns over the credit profile of the ...
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MARC has affirmed its short-term and long-term ratings of MARC-2ID/AID on EP Manufacturing Berhad's (EPMB) RM120 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Programme with a stable outlook. The rating action affects RM10 million of notes outstanding under the programme.The affirmed ratings reflect the group’s strong domestic market position as leading Tie...
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MARC has lowered its rating on Perwaja Steel Sdn Bhd’s (Perwaja) RM400.0 million Murabahah Medium Term Notes (MMTN) programme from AID to A-ID. The outlook on the rating is negative. The rating action, which affects RM160 million of outstanding MMTNs under the programme, is premised on the prolonged decline in the steelmaker’s operating performance and the rating agency’s expecta...
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MARC has placed Kinsteel Berhad’s (Kinsteel) RM100 million Murabahah Commercial Papers/Medium Term Notes Programme (CP/MTN) and RM100 million Murabahah Medium Term Notes (MTN) Programme rated MARC-2ID /AID and AID respectively on MARCWatch Negative. The rating actions reflect Kinsteel group’s weakening financial measures that are likely to be exacerbated by part-debt funding of the ful...
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MARC has downgraded its ratings on Maxtral Industry Berhad's (Maxtral) RM80 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) and RM20 million Murabahah Underwritten Notes Issuance/Murabahah Medium Term Notes (MUNIF/MMTN) facilities to BBB-ID and MARC-4ID/BBB-ID from BBB+ID and MARC-3ID/BBB+ID respectively. Concurrently, the ratings have been placed on MARCWatch Negative. T...
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MARC has affirmed its ratings of MARC-1ID/A+ID on Weida (M) Bhd’s (Weida) RM100 million 7-year Murabahah Underwritten Notes Issuance (MUNIF)/Islamic Medium Term Notes Facility (IMTN). The outlook on the ratings is stable. The rating action incorporates the partially funded designated account that Weida has recently set up to improve the certainty of full and timely repayment of its remaining...
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MARC has affirmed the short-term and upgraded the long-term ratings of Boon Koon Group Bhd’s (BKGB) RM100 million Islamic Commercial Papers/Islamic Medium Term Notes (ICP/IMTN) programme to MARC-3ID/BBBID from MARC-3ID/BBB-ID respectively. The rating outlook is stable. The rating action affects RM45 million of outstanding notes issued under the programme. The upgrade in the long-term rating ...
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MARC has withdrawn its ratings of MARC-2ID/AID on Goodway Integrated Industries Berhad’s (Goodway) RM80 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) with immediate effect. The ratings withdrawal follows the redemption of the outstanding RM50.0 million under the rated facility on October 19, 2011 and concurrently the termination of the programme as confirme...
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