MARC has withdrawn its ratings on Puncak Niaga (M) Sdn Bhd’s (PNSB) issuances as follows:  IssuesCurrent RatingsOutstanding Amount(RM million)1)RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS)BBBID1,020.02)RM546.88 million Junior Notes A (A Notes)BB+328.13)RM435.0 million Redeemable Unsecured Bonds (RUB)BB+435.0Acqua SPV Bhd (ASPV), a wholly-owned subsidiary of Pengurusa...

MARC today took various rating actions on the Selangor water sector issuers. Below is a list of all the affected debt issuances and rating actions:1. Syarikat Bekalan Air Selangor Sdn Bhd (SYABAS)RM3.0 billion BBA CP/MTN2. Puncak Niaga (M) Sdn Bhd (PNSB)RM1.02 billion BaIDSRM546.88 million A NotesRM435.0 million RUB3. Puncak Niaga Holdings Bhd (PNHB)RM546.88 million RUN with warrants4. RUN Holding...

MARC has revised its ratings on Puncak Niaga (M) Sdn Bhd (PNSB) and related ratings, following a review of the Selangor water sector ratings which was initiated in June 2010. Concurrently, PNSB and its related ratings have been removed from MARCWatch Negative where they were first placed on June 8, 2010. The two-notch downgrades in PNSB’s senior debt rating on its RM1.02 billion Bai Bithaman...

MARC has placed the ratings of all its Selangor water sector-related issuances on MARCWatch Negative. The rating action affects the following issuers and issuances:Syarikat Bekalan Air Selangor Sdn BhdRM3.0 billion BBA CP/MTN Programme  - MARC-1ID  / AA-IDPuncak Niaga (M) Sdn Bhd RM1,020.0 million BaIDS   - AAIDRM546.875 million Junior Notes A  - A+RM435.0 m...

MARC has affirmed its ratings on Puncak Niaga (M) Sdn Bhd’s (PNSB) RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) at AAID as well as RM546.875 million Junior Notes A (A Notes) and RM435.0 million Nominal Value Redeemable Unsecured Bonds (RUB) at A+ respectively. The affirmed ratings reflect low demand risk for bulk water, solid historical debt service coverages and adequate...

MARC has affirmed Puncak Niaga (M) Sdn Bhd’s (PNSB) ratings of AAID on its RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and A+ respectively on both its RM546.875 million Junior Notes A (A Notes) and RM435.0 million Nominal Value Redeemable Unsecured Bonds (RUBs). The AAID rating of the BaIDS acknowledges the legal priority of the secured debt over the other rated obligati...

The ratings of PNSB’s RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM546.875 million Junior Notes A (“A Notes”) have been reaffirmed at AAID and A+ respectively. MARC has also affirmed PNSB’s RM435 million Nominal Value Redeemable Unsecured Bonds (“RUBs”) ratings at A+. The ratings carry a stable outlook. The ratings are sup...

MARC has withdrawn the MARC-1ID /AAID rating assigned to Puncak Niaga (M) Sdn Bhd’s RM350.0 million MCP/MMTN with immediate effect, following confirmation by United Overseas Bank (Malaysia) Bhd, the Facility Agent, that the facility had expired on 11 October 2007. The facility had been fully redeemed in 2005, with no further utilization prior to its expiry....

Puncak Niaga (M) Sdn Bhd’s (PNSB) RM1.02 billion Bai Bithaman Ajil Islamic Debt Securities (BaIDS) and RM350 million Murabahah Commercial Papers/ Medium-Term Notes ratings have been reaffirmed at AAID and MARC-1ID/AAID respectively with a Stable Outlook. At the same time, the rating of PNSB’s RM546.875 million Junior Notes A (A Notes) has been upgraded to A+. The ratings are supported ...

MARC has assigned a rating of A+ with Stable Outlook to Puncak Niaga (M) Sdn Bhd’s (“PNSB”) RM435 million Nominal Value Redeemable Unsecured Bonds (“RUBs”). The rating is supported by the continued strength and bright outlook of the water supply services industry especially in the state of Selangor, increased revenue and profitability of PNSB, and improving cash flows...