MARC Ratings has revised the outlook on Top Glove Corporation Bhd’s corporate credit rating to negative from stable on concerns that the impact from the continued tough global market conditions for glove manufacturers will weigh on the group’s performance. Concurrently, the rating outlook on the RM3.0 billion Perpetual Sukuk Wakalah Programme of Top Glove’s wholly-owned funding vehicle TG Ex...

MARC Ratings has affirmed Top Glove Corporation Bhd’s (Top Glove) corporate credit rating at AA+ and concurrently affirmed its wholly-owned TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Wakalah Programme rating at AA-IS(CG). The ratings outlook is stable. The rating on the perpetual sukuk reflects its subordination to Top Glove group's senior unsecured obligations. Top Glove’s le...

MARC has upgraded Top Glove Corporation Bhd’s (Top Glove) corporate credit rating to AA+ from AA and concurrently affirmed its rating of AA-IS(CG) on special purpose vehicle TG Excellence Berhad’s RM3.0 billion Perpetual Sukuk Wakalah Programme. Top Glove, which owns 100% of TG Excellence, has provided a subordinated unconditional and irrevocable corporate guarantee on the perpetual sukuk. The...

MARC has assigned a final rating of AA-IS with a stable outlook to TG Excellence Berhad’s proposed RM3.0 billion Perpetual Sukuk Wakalah Programme. Upon review of the final documentation for the programme, MARC is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the earlier preliminary rating of AA-IS was based.For full detai...

MARC has assigned a rating of AA-IS to TG Excellence Berhad’s proposed RM3.0 billion Perpetual Sukuk Wakalah Programme. TG Excellence Berhad is a special purpose wholly-owned subsidiary of Top Glove Corporation Bhd (Top Glove) to which MARC has concurrently assigned a corporate credit rating of AA. The ratings carry a stable outlook. Top Glove will provide a subordinated unconditional and ...