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MARC has affirmed the AAAID(S) rating on Kuching Port Authority’s (KPA) RM180.0 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) with a stable outlook. The rating is aligned to MARC’s credit rating of the Sarawak State Government on the basis of a letter of support from the Sarawak State Government (SSG) for the BaIDS. The rating also reflects the sufficiency of cont...
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MARC WITHDRAWS ALIRAN IHSAN RESOURCES BERHAD’S DEBT RATING UPON FULL REDEMPTION OF OUTSTANDING RCULS
MARC has withdrawn its rating of A on Aliran Ihsan Resources Berhad’s (AIRB) RM56.9 million Redeemable Convertible Unsecured Loan Stocks (RCULS) and ceased analytical coverage on the issue with immediate effect following a request by the issuer received by MARC on January 26, 2012. The outstanding RCULS were fully redeemed on November 29, 2011. Contacts: David Lee, +603-2082 2255/ davi...
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MARC has lowered its rating on Sistem Penyuraian Trafik KL Barat Sdn Bhd's (SPRINT) RM510 million Al Bai Bithaman Ajil Islamic Debt Securities (BaIDS) to A+ID from AA-ID. The rating outlook is stable. Concurrently MARC has affirmed its AA-(bg) rating on SPRINT's RM365 million Bank Guaranteed Serial Fixed Rate Bonds (BG Bonds) with a stable outlook.The rating and outlook of the BG Bonds reflect MAR...
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MARC has affirmed Alloy Properties Sdn Bhd’s (APSB) RM240 million Sukuk Musyarakah Medium Term Notes (IMTN) Programme rating at AAIS. Concurrently, MARC has removed APSB’s rating from MARCWatch Negative where it had been placed on August 22, 2011. The rating outlook is stable. The rating action concludes MARC’s review of the issue rating initiated in August 2011 following the ear...
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MARC has affirmed its AAAID long-term rating on Gas District Cooling (Putrajaya) Sdn Bhd’s (GDC Putrajaya) RM300 million Al-Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS). The rating outlook is maintained at stable. The rating reflects GDC Putrajaya’s position as the sole producer and supplier of chilled water for the air-conditioning needs of all government premises and comm...
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MARC has assigned a final rating of AAAIS with a stable outlook to Projek Lebuhraya Usahasama Berhad’s (PLUS Berhad) RM23.35 billion Sukuk Musharakah Programme. Upon MARC’s review of the final documentation for its forthcoming notes issuance, MARC is satisfied that the terms and conditions of the programme have not changed in any material way from the draft documents on which the earli...
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MARC has assigned the ratings of MARC-1(fg)/AAA(fg) to Riverson Corporation Sdn Bhd’s (Riverson) RM200 million 5-year Commercial Papers/Medium Term Notes (CP/MTN) Programme with a stable outlook. The ratings and outlook are based on the financial guarantee insurance policy extended by Danajamin Nasional Berhad (Danajamin) for the rated programme. Danajamin is currently rated AAA/stable premi...
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MARC has removed its AAID long-term rating on MTD InfraPerdana Bhd’s (MTD InfraPerdana) RM700.0 million Islamic Medium Term Notes (IMTN) Programme from MARCWatch Developing and withdraws its rating with immediate effect. The rating withdrawal follows the early redemption of MTD InfraPerdana’s IMTN Programme on November 29, 2011 as confirmed by the facility agent. The rating was placed ...
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MARC has assigned a preliminary rating of AAAIS to Projek Lebuhraya Usahasama Berhad's (PLUS Berhad) proposed RM23.35 billion Sukuk Musharakah Programme under which the company is to issue senior secured sukuk pending final documentation review. The rating outlook is stable.PLUS Berhad is a wholly owned subsidiary of PLUS Malaysia Sdn Bhd (PLUS Malaysia), a 51:49 joint-venture company incorporated...
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MARC has assigned a final rating of AAIS with a stable outlook to ANIH Berhad’s RM2.5 Billion Senior Sukuk Musharakah Programme upon the receipt of final documentation for its forthcoming notes issuance. The terms and conditions of the notes have not changed in any material way from the draft documents on which the earlier preliminary rating of AAIS was based. Full details on the assigned ra...
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