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MARC has removed its ratings of AAAID and AAID on ABS Plantation Assets Berhad’s (ABS Plantation) RM50 million Class A and RM45 million Class B Senior Notes Bai’ Bithaman Ajil Islamic Debt Securities (BaIDs) respectively from MARCWatch Developing, where they have been placed since August 28, 2009. At the same time, MARC has withdrawn the ratings upon confirmation from the facilit...
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MARC maintains its AAAID and AAID ratings on ABS Plantation Assets Berhad’s (ABS Plantation) RM50 million Class A and RM45 million Class B Senior Notes Bai-Bithaman Ajil Islamic Debt Securities (BaIDs) respectively on MARCWatch Developing, where they have been placed since August 28, 2009. This MARCWatch extension, the second, since November 12, 2009, considers the delayed redemption of the ...
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MARC is issuing this interim update following the completion of its review on its AAAID and AAID ratings on ABS Plantation Assets Berhad’s (ABS Plantation) RM50.0 million Class A and RM45.0 million Class B Senior Notes Bai-Bithaman Ajil Islamic Debt Securities (BaIDs) respectively initiated in November 2009. For this review, MARC’s assessment of the securitised plantation assets’...
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MARC has placed its AAAID and AAID ratings on ABS Plantation Assets Berhad’s (ABS Plantation) Class A and Class B Senior Notes Bai-Bithaman Ajil Islamic Debt Securities (BaIDs) respectively on MARCWatch Developing. The MARCWatch placement reflects the uncertainties surrounding ABS Plantation’s planned early redemption exercise, which is contingent on consent from the BaIDsholders in co...
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MARC has affirmed the ratings of ABS Plantation Assets Berhad’s (ABSP) RM50.0 million Class A and RM45.0 million Class B Bai Bithaman Ajil Islamic debt securities (Notes) at AAAID and AAID respectively. Additionally, MARC has assigned a stable outlook to the ratings. The affirmed ratings follow a satisfactory performance review of the securitised palm oil estates. The performance of this pla...
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MARC has reaffirmed the long-term ratings of ABS Plantation Assets Berhad’s (ABSP) RM50.0 million Class A and RM45.0 million Class B Bai Bithaman Ajil Islamic debt securities (Notes) at AAAID and AAID respectively. The affirmed ratings reflect the satisfactory performance of underlying plantation assets with the net operating income (NOI) of RM17.1 million for the period under review, well a...
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MARC has affirmed the long term ratings of ABS Plantation Assets Berhad’s (ABSP) RM50.0 million Class A and RM45.0 million Class B Bai Bithaman Ajil debt securities (Notes) at AAAID and AAID respectively. The ratings reflect the economics of underlying plantation assets; and the structural features of the sale and leaseback transaction which include low loan-to-value (LTV) ratios at maturity...
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MARC has assigned AAAID and AAID to ABS Plantation Assets Berhad (ABSP)’s RM50 million Class A and RM45 million Class B Bai-Bithaman Ajil (BaIDS) Islamic Debt Securities respectively. The ratings reflect the quality of the plantation properties; the structural features incorporated into the transaction; irrevocable guarantee provided by Multi Vest in respect of the periodic lease payments; and r...
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