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MARC Ratings has affirmed its rating of AA-IS on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650 million with a stable outlook.SAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns an 80% stake in Ranhill SAJ Sdn Bhd. As the dividends from Ranhill SAJ form the source of the profit payments and principal repayments of the sukuk, the rating reflects its credit s...
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MARC Ratings has affirmed its rating of AA-IS on SAJ Capital’s Sdn Bhd’s Sukuk Murabahah of up to RM650 million with a stable outlook.SAJ Capital is a wholly-owned funding vehicle of Ranhill Capital Sdn Bhd, which owns an 80%-stake in Ranhill SAJ Sdn Bhd, an exclusive provider of treated water in Johor. As the dividends from Ranhill SAJ form the source of the profit and principal repayments of...
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MARC has affirmed its rating of AA-IS on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million with a stable outlook. SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd, which has an 80% interest in Ranhill SAJ Sdn Bhd, the exclusive provider of source to tap water in Johor. SAJ Capital serves only to issue the sukuk, while the source for profit payments and principal repayments ...
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MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million. The rating outlook is stable. SAJ Capital is 100%-owned by Ranhill Capital Sdn Bhd, which holds an 80% interest in Ranhill SAJ Sdn Bhd (RSAJ), the sole water treatment operator and treated water distributor in Johor. SAJ Capital functions only as a single-purpose funding conduit for the suk...
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MARC has affirmed its AA-IS rating on single-purpose company SAJ Capital Sdn Bhd’s Sukuk Murabahah of up to RM650.0 million with a stable outlook.
SAJ Capital Sdn Bhd is 100%-owned by Ranhill Capital Sdn Bhd which holds an 80% interest in Ranhill SAJ Sdn Bhd (SAJ), the sole water treatment operator and treated water distributor in Johor.
The affirmed rating reflects the credit strengt...
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MARC has affirmed its AA-IS rating on SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650.0 million for up to 12 years. The outlook on the rating is stable.
The rating on SAJ Capital is equated with that of its sister company Ranhill SAJ Sdn Bhd (SAJ) on the basis that the former functions as a single-purpose funding conduit for the sukuk. SAJ Capital and SAJ are held by Ran...
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MARC has assigned a final rating of AA-IS to SAJ Capital Sdn Bhd’s (SAJ Capital) Sukuk Murabahah of up to RM650 million for up to 12 years. The outlook on the rating is stable.
Upon review of the final documentation of the issuance, MARC is satisfied that the terms and conditions of the Sukuk Murabahah have not changed in any material way from the draft documentation on which the earlier p...
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MARC has assigned a preliminary rating of AA-IS to SAJ Capital Sdn Bhd’s (SAJ Capital) proposed Sukuk Murabahah of up to RM650 million for up to 12 years. The outlook on the rating is stable. SAJ Capital is wholly owned by Ranhill Capital Sdn Bhd (RCSB), which in turn is a wholly-owned subsidiary of Bursa Malaysia-listed Ranhill Holdings Berhad (Ranhill). RCSB holds an 80% interest in SAJ Ranhil...
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