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MARC has withdrawn its rating of MARC-2ID/AID on Glomac Berhad’s (Glomac) RM25 million Murabahah Notes Issuance Facility/Islamic Medium Term Facilities (MUNIF/IMTN). The rating withdrawal follows the final redemption of Glomac’s outstanding amount and early cancellation of the facility on July 30, 2010, as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad. Contacts: N...
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MARC has upgraded Glomac Berhad’s (Glomac) long-term rating to AID from A-ID and concurrently affirmed the short-term rating at MARC-2ID under the RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN). The ratings carry a stable outlook. The upgrade reflects Glomac’s improved financial leverage and the turnaround in Glomac’s cash flow generation,...
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MARC has withdrawn its A-ID rating on Glomac Berhad’s (Glomac) RM60.0 million Junior Bai Bithaman Ajil Islamic Bonds with immediate effect, following the full redemption and cancellation of the facility, as confirmed by its facility agent, MIDF Amanah Investment Bank Berhad. MARC continues to maintain MARC-2ID/A-ID ratings on Glomac’s outstanding RM25 million Murabahah Notes Issuance F...
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MARC has affirmed the A-ID /MARC-2ID ratings on property developer Glomac Berhad’s (Glomac) RM60 million Junior Bai’Bithaman Ajil Islamic Bonds (Junior BaIDS) and its RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) respectively. Glomac’s RM50 million Senior BaIDS was fully redeemed in January 2006. The ratings reflect Glomac’s establi...
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MARC has affirmed its ratings of Glomac Berhad’s (Glomac) RM60 million Junior Bai’Bithaman Ajil Islamic Bonds (Junior BaIDS) and RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) at A- ID /MARC-2ID respectively. The ratings outlook is stable. The affirmed ratings reflect the Group’s good market position, backed by the strategic location of Gl...
This article has been viewed 964 times.
The long-term ratings of Glomac Berhad’s (Glomac) RM60 million Junior Bai’Bithaman Ajil Islamic Bonds (Junior BaIDS) and RM25 million Murabahah Notes Issuance Facility / Islamic Medium Term Notes (MUNIF/IMTN) have been downgraded to A- ID while the short term rating for the MUNIF/IMTN has been reaffirmed at MARC-2ID. The ratings have been accorded a Stable Outlook. The ratings downgrad...
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MARC has reaffirmed Glomac Berhad’s (“Glomac”) rating of RM50.0 million Senior Bai’ Bithaman Ajil Islamic Bonds at A+ID; RM60.0 million Junior Bai’ Bithaman Ajil Islamic Bonds (Junior BaIDS) at AID and RM25.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The ratings reflect the company’s established position as a reputable property de...
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MARC has affirmed Glomac Berhad’s (“Glomac”) rating of RM50.0 million Senior Bai’ Bithaman Ajil Islamic Bonds at A+ID; RM60.0 million Junior Bai’ Bithaman Ajil Islamic Bonds (Junior BaIDS) at AID and RM25.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) at MARC-2ID/AID. The ratings reflect the company’s established position as a reputable property deve...
This article has been viewed 954 times.
MARC has assigned the ratings of A+ID to Glomac Berhad’s (Glomac) RM50.0 million Senior Bai’ Bithaman Ajil Islamic Bonds (Senior BaIDS); AID to RM60.0 million Junior Bai’ Bithaman Ajil Islamic Bonds (Junior BaIDS); and MARC-2/AID to RM25.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN). The ratings are supported by Glomac’s position as one of the reputable...
This article has been viewed 884 times.