Press Releases - Category: Property
Displaying 1-10 of 486 results.
Thursday, Jul 15, 2021
MARC has assigned a rating of AIS to Tropicana Corporation Berhad’s (Tropicana) RM2.0 billion existing Perpetual Sukuk programme with a stable outlook. The Perpetual Sukuk is rated one notch lower than Tropicana’s corporate credit rating of A+/stable to reflect its features and is in line with MARC’s methodology on subordinated instruments. No equity credit has been given to the Perpetual Su...

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Tuesday, Jun 15, 2021
MARC has assigned a final rating of AAIS with a stable outlook to S P Setia’s RM3.0 billion Islamic Medium-Term Notes Programme.The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary rating was based.For full details of the assigned rating, p...

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Thursday, Jun 03, 2021
MARC has affirmed its rating of AAA on Inverfin Sdn Bhd’s Tranche A notes under the maximum limit of RM160 million of its Medium-Term Notes (MTN) programme. The outlook on the rating has been revised to negative from stable.The affirmed rating reflects the acceptable loan-to-value (LTV) ratio of 41.9% for the Tranche A notes that remains within the benchmark MARC applies for the rating band. The...

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Thursday, May 27, 2021
MARC has affirmed its long-term ratings of AAA, AA and A on Kinabalu Capital Sdn Bhd’s Issue 2 Medium-Term Notes (MTN) of RM130 million Class A, RM25 million Class B and RM15 million Class C. Concurrently, the rating agency has also affirmed its MARC-1 rating on Kinabalu Capital’s Issue 2 of up to RM170 million Commercial Papers (CP). The ratings outlook is stable.The affirmed ratings reflect ...

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Tuesday, May 04, 2021
MARC has assigned a preliminary rating of AAIS with a stable outlook to S P Setia Berhad’s proposed RM3.0 billion Islamic Medium-Term Notes Programme. Proceeds from the proposed issuance will largely be used to fund capital injection into the group’s joint-venture Battersea Power Station project (Battersea Project) and refinance earlier borrowings undertaken to fund this project. The key ...

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Thursday, Apr 01, 2021
MARC has affirmed its ratings of AAA, AA and B- on special purpose vehicle Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN), RM50.0 million Senior Class B MTN and RM800.0 million Subordinated Class MTN under the existing RM1.1 billion MTN programme. The ratings outlook is stable. Special Coral owns about 91.6% of the strata area in Queensbay Mall, an eight-storey sh...

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Monday, Mar 22, 2021
MARC has assigned a rating of AAAIS with a stable outlook on Putrajaya Holdings Sdn Bhd (PJH)’s proposed RM1.0 billion 20-year Sukuk Wakalah Programme. Concurrently, the rating agency has affirmed its existing ratings on PJH’s other issuances, the list of which is provided at end of this announcement. The ratings outlook is stable. Proceeds from the new programme will be used for the cons...

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Thursday, Mar 11, 2021
MARC has affirmed its A+IS rating on Tropicana Corporation Berhad’s (Tropicana) RM1.5 billion Islamic Medium-Term Notes Programme (Sukuk Wakalah) with a stable outlook. Tropicana’s established position in the domestic property industry and its moderate financial risks remain key rating drivers. The tough property market conditions have continued to weigh on the group’s sales performance...

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Monday, Jan 11, 2021
MARC has affirmed its ratings on Berjaya Land Berhad’s (BLand) RM500.0 million Medium-Term Notes (MTN) Programme guaranteed by Danajamin Nasional Berhad (Danajamin) at AAA(fg) and RM150.0 million MTN Programme guaranteed by OCBC Bank (Malaysia) Berhad (OCBC Malaysia) at AAA(bg). The ratings outlook is stable. The affirmed ratings reflect the unconditional and irrevocable guarantees provided by D...

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Friday, Jan 08, 2021
MARC has withdrawn its rating of AAA on Special Coral Sdn Bhd’s RM250.0 million Senior Class A Medium-Term Notes (MTN) under the RM1.1 billion MTN Programme. The rating withdrawal follows completion of the refinancing exercise and full redemption of the outstanding RM200.0 million Senior Class A MTN. MARC’s analytical coverage on the RM1.1 billion MTN Programme is now limited to the RM250...

This article has been viewed 123 times.