MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM470.0 million Sukuk Ijarah with a stable outlook. The rating benefits from a two-notch uplift from the company’s standalone rating of AA- due to potential support from Tenaga Nasional Berhad (TNB) (AAA/Stable). TNB indirectly owns 60.0% of equity interest in KEV.KEV owns and operates the Kapar Pow...

MARC Ratings has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM580.0 million Sukuk Ijarah and concurrently revised the outlook to stable from negative. The outlook revision reflects the improvement in KEV’s cash flow protection following better operational metrics recorded by its 2,200MW power plant. Over the last two years, the negative trend of unplann...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) outstanding RM790.0 million Sukuk Ijarah. The rating outlook is maintained at negative. KEV, which owns and operates the 2,200MW Kapar Power Station in Klang, has seen an improvement in the operating performance of two of its three generating facilities that led to capacity payments (CP) that are largely in line wit...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah. The rating outlook has been revised to negative from stable. KEV owns and operates the 2,200 MW Kapar Power Station. The affirmed rating benefits from a two-notch support uplift from KEV’s standalone rating of AA- to reflect MARC’s expectation of a very high probability of parental su...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah with a stable outlook. KEV is a 60.0%-owned subsidiary of Tenaga Nasional Berhad (TNB) (AAA/Stable). KEV owns and operates Kapar Power Station which has four generating facilities with a combined nominal capacity of 2,420MW. The power plant has continued to face operational challenges du...

MARC has affirmed its rating of AA+IS on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah with a stable outlook. KEV is a 60.0%-owned subsidiary of Tenaga Nasional Berhad (TNB) which owns and operates Kapar Power Station (KPS), the largest domestic multi-fuel thermal power station. KPS has four generating facilities (GF) with a combined nominal capacity of 2,420 megawatts (MW). ...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah and revised the rating outlook to stable from negative. KEV, a 60%-owned subsidiary of Tenaga Nasional Berhad (TNB), owns and operates Kapar Power Station (KPS), the largest domestic multi-fuel thermal power station with four generating facilities (GF) with a combined nominal capacity of 2...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah (sukuk) but revised the outlook to negative from stable. The affirmed rating incorporates a two-notch uplift from KEV’s standalone rating of AA- based on MARC’s continued assessment of a high probability of parental support from KEV’s majority shareholder, Tenaga Nasional Berhad (TN...

MARC has affirmed its AA+IS rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM2.0 billion Sukuk Ijarah (sukuk) with a stable outlook. The affirmed rating incorporates a two-notch uplift from KEV’s standalone rating of AA- premised on MARC’s continued assessment of a very high probability of support from majority shareholder Tenaga Nasional Berhad (TNB). The rating agency’s assessment is un...

MARC has withdrawn its AA+ID rating on Kapar Energy Ventures Sdn Bhd’s (KEV) RM3,402.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BaIDS) upon full early redemption of the outstanding notes from the proceeds of the RM2.0 billion Sukuk Ijarah. Going forward, MARC’s rating surveillance is now limited to the Sukuk Ijarah which is rated AA+IS with a stable outlook. KEV was es...