MARC announced today that it has withdrawn the rating on Puncak Niaga (M) Sdn Bhd’s RM800 million Revolving Underwritten Facility following the full redemption of all notes outstanding under the Facility on 27 November 2000.Puncak Niaga’s remaining private debt security facilities which are presently outstanding, namely its RM1.02 billion Al-Bai Bithaman Aijil (ABBA) serial bonds and its RM350...

MARC has assigned a rating of AAID to Puncak Niaga (M) Sdn Bhd’s (PNSB) ABBA serial bonds and MARC-1/AAID to its MuCP/MTN programme. Proceeds from the new debt offering will be substantially utilized to refinance PNSB’s existing debts including the RM800 million revolving underwritten facility (RUF) due in 2002. MARC had re-affirmed the RUF rating of MARC-2 in March 2000. Upon redemption of...

MARC has affirmed the rating of MARC - 2 on Puncak Niaga (M) Sdn Bhd’s (PNSB) Revolving Underwritten Facility (RUF) with term loan conversion. The rating is supported by sustained demand for water with production of treated water surpassing the minimum take-or-pay quantity that was set by the government; low off-taker risk; satisfactory operation of the existing water treatment facilities under...