MARC has upgraded the rating of KMT’s FRN from A+ to AA-. The upgrade reflects the company’s strong business fundamentals driven by the steady growth in the container volume, solid financial profile and business growth opportunities from the Government’s full support in developing Port Klang into a Transshipment Megahub/Free Trade Zone, emulating the accomplished Jebel Ali Free Zone Internat...

MARC has assigned a rating of AID (A flat, Islamic Debt) to ARL Tenaga Sdn Bhd’s (ARLT) proposed RM50.0 million Islamic Medium-Term Notes. The assigned rating reflects the stable and predictable cash flow which is expected to cover the company’s debt servicing requirements comfortably; the presence of a long-term fuel supply contract which eliminates supply disruption risk; and an issue struct...

MARC has upgraded the long-term rating on Gas District Cooling (KLIA) Sdn Bhd’s (GDC KLIA) RM207 Million Murabahah Commercial Paper/Medium-Term Notes to AAID while the short term rating has been reaffirmed at MARC-1. The ratings reflect GDC KLIA’s captive offtake demand for its chilled water and electricity, strong shareholder support, consistent financial performance reflected by improving de...

MARC has reaffirmed the long-term rating of A ID (Single A Flat Islamic Debt) on SAJ Holdings Sdn Bhd’s (SAJH) RM680 million Al-Bai’ Bithaman Ajil Serial Bonds. The rating is supported by its proven operating track record; Johor state’s growing water demand; a tariff setting mechanism that provides for an agreed rate of return to the company and a fairly tight issue structure. The rating, h...

MARC has reaffirmed the long term rating of SPRINT’s RM510 million Al-Bai Bithaman Ajil Islamic debt securities and the short term rating of the Revolving Underwritten Facility of up to RM125 million at A–ID (Single A Minus, Islamic Debt) and MARC-2 respectively. The long term rating of SPRINT’s RM365 million Bank Guaranteed Serial Fixed Rate Bonds has been upgraded from A- (Single A Minus)...

MARC has reaffirmed the long-term rating of Sistem-Lingkaran Lebuhraya Kajang Sdn Bhd’s (SILK) RM2.01 billion Al-Bai’ Bithaman Ajil debt securities at AID. The rating reflects the perceived strong demand for the Kajang Traffic Dispersal Ring Road to relieve severe traffic congestion in the Kajang District. Project demand is further underpinned by the Ring Road’s function as a primary urban ...

MARC has reaffirmed the ratings of Tenaga Nasional Berhad’s (TNB) private debt securities namely; RM1.5 billion Murabahah Commercial Papers and Murabahah Medium-Term Notes (2002/2009) (MARC-1ID/AA+ID); RM2.0 billion Al-Bai’ Bithaman Ajil Bonds (AA+ID); RM500 million 8-year Fixed Rate Unsecured Bonds (AA+); and RM1.0 billion Al-Bai’ Bithaman Ajil Notes Issuance Facility (AA+ID/MARC-1ID) and t...

MARC has affirmed the rating of AAAID on GDC Putrajaya Sdn Bhd’s (GDC Putrajaya) Al-Bai’ Bithaman Ajil Islamic Debt Securities. The rating affirmation reflects the significance of the project in providing the supply of chilled water to all Government premises in Putrajaya; the superior credit strength of the main offtakers, that is the Government and Putrajaya Holdings Sdn Bhd (PJH); and the s...

MARC has reaffirmed the rating of Kertih Terminals Sdn Bhd’s (KTSB) RM500 million revolving underwritten facility with term loan conversion (1999/2004) at MARC-1. The rating reflects the company’s strong financial position, stable and predictable cash flows generated from the long term contracts by the terminal users as well as financially strong and established shareholders.KTSB was incorpora...

MARC has reaffirmed Petronas Gas Berhad’s (PGB) issuer rating at MARC-1/AAA, its RM900 million Murabahah Commercial Paper/Medium Term Notes Programmes (1999/2004) (MUNIF) ratings at MARC-1/AAAID (Islamic Debt), and RM500 million Al-Bai Bithaman Ajil Bonds Issuance Facility (1999/2004) (ABBA) rating at AAAID (Islamic Debt).The reaffirmation of the ratings are supported by the company’s dominant...