Malaysian Rating Corporation Berhad has reaffirmed the rating of AID (Single A Flat, Islamic Debt) for ARL Tenaga Sdn Bhd’s (ARLT) Al-Bai Bithaman Ajil Secured Serial Bonds Facility (ABBA) with a nominal value of RM177.0 million. The reaffirmation of the rating reflects the stable and predictable cash flow which is expected to cover the company’s debt servicing requirements comfortably; the pr...

MARC has reaffirmed the rating of MTD Prime Sdn Bhd’s (MTD Prime) RM250 million Al-Bai Bithaman Ajil Islamic Debt Securities at AA-ID. The rating reaffirmation reflects the positive traffic growth at the KL – Karak Highway, higher than the Government’s guaranteed traffic volume; and the strength of the company’s financial profile underpinned by the strong revenue growth.MTD Prime is the co...

MARC has reaffirmed the rating of Kelang Multi Terminal Sdn Bhd’s (KMT) Floating Rate Notes (FRN) with a nominal value of RM350 million at A+ (A plus). The reaffirmation of the rating reflects KMT’s strong business fundamentals and operational efficiency and continued growth in container and conventional throughput. Offsetting this is the high, but manageable debt leverage level and the stiff ...

MARC has reaffirmed the ratings of Puncak Niaga (M) Sdn Bhd’s (PNSB) ABBA serial bonds, MuCP/MuMTN and junior notes at AAID, MARC-1ID/AAID and A respectively. Concurrently, the negative outlook on the ratings has also been lifted. The ratings reflect amongst others the inherent unfaltering demand for treated water and the Federal Government’s proposed financial support in resolving the long ou...

MARC has reaffirmed the rating of Puncak Niaga Holdings Berhad’s (PNHB) Redeemable Unconvertible Junior Notes (RUN) at A, similar to Puncak Niaga (M) Sdn Bhd’s (PNSB) junior notes A (A notes). The rating reflects a perfected security interest in the A notes and the escrow account to which matching debt service payments under the A notes will flow. The three-notch differential between the senio...

The reaffirmation of Dialog Group Berhad (DIALOG)’s corporate credit rating of ‘AA-‘ reflects the Group’s continued strong financial profile; characterized by low gearing, strong cash flow position and good financial flexibility as well as its above average position in the highly specialized oil, gas and petrochemical industry backed by its commendable performance and safety track record. ...

Further to our meeting with PNSB’s management, the outcome of the privatization of the water distribution in Selangor is expected to be known in the third quarter of year 2003. Latest developments indicate that the resolution of the issue pertaining to the outstanding receivables due from Perbadanan Urus Air Selangor Bhd (PUAS) is one of the integral factors of the exercise.Consequently, MARC ma...

Further to our meeting with PNSB’s management, the outcome of the privatization of the water distribution in Selangor is expected to be known in the third quarter of year 2003. Latest developments indicate that the resolution of the issue pertaining to the outstanding receivables due from Perbadanan Urus Air Selangor Bhd (PUAS) is one of the integral factors of the exercise.Consequently, MARC ma...

MARC has reaffirmed the ratings of GDC (KLIA) Sdn Bhd’s (GDC KLIA) RM207 million Murabahah Commercial Paper/Medium-Term Notes at MARC-1ID/AA-ID (double A minus, Islamic debt securities). The reaffirmations reflect GDC KLIA’s captive offtake demand for its chilled water and electricity, strong shareholder support, low operation risk and improved financial performance. The ratings, however, con...

MARC has downgraded the long term rating of SPRINT’s RM510 million Al-Bai Bithaman Ajil Islamic debt securities from AID (Single A, Islamic Debt) to A–ID (Single A Minus, Islamic Debt) and the RM365 million Bank Guaranteed Serial Fixed Rate Bonds from A (Single A) to A– (Single A Minus). The company’s Revolving Underwritten Facility has, nevertheless, been affirmed at MARC-2. The revisio...