MARC has revised its outlook on Sunrise Berhad’s (Sunrise) ratings of MARC-1ID /A+ID on RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) and A+ID on its RM400.0 million IMTN facility to stable from positive. Concurrently, MARC has affirmed the ratings. The outlook revision to stable reflects expectations of moderation in sales momentum and potential mar...

MARC has withdrawn the A+ID rating assigned to Sunrise Berhad’s (Sunrise) RM100.0 million Bai’ Bithaman Ajil Notes Issuance Facility (BBA) with immediate effect following the full redemption of the BBA.With the redemption of the BBA, MARC’s rating obligations are now limited to Sunrise’s RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN)...

MARC has assigned a rating of A+ID to Sunrise Berhad’s (Sunrise) restated Islamic MTN facility, which was upsized to RM400.0 million from RM150.0 million. Additionally, MARC has reaffirmed Sunrise’s short term and long term debt ratings of MARC-1ID / A+ID on RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes and RM100.0 million Bai’ Bithaman Ajil Notes Iss...

MARC said today that its A+ID and MARC-1ID ratings on Sunrise Berhad’s (“Sunrise”) long and short term Islamic debt ratings are not affected by the cancellation of the underwriting commitment for the Murabahah Notes Issuance Facility/Islamic Medium Term Notes Facility (“MUNIF/IMTN”) and the disposal of Plaza Mont’ Kiara with respect to the following MARC-rated i...

MARC has uplifted the MARCWatch Developing on Sunrise Berhad’s (“Sunrise”) RM70 million MUNIF/IMTN and RM100 million BBA placed on 10 November 2006 following an announcement of the appointment of the voluntary administrator on Broadfields II Pty. Ltd. (“BII”), a foreign subsidiary of Sunrise; which triggered a technical event of default.The upliftment is based on the ...

MARC has placed Sunrise Berhad’s (“Sunrise”) RM70 million MUNIF/IMTN and RM100 million BBA on MARCWatch with a developing outlook following an announcement of the appointment of the voluntary administrator on Broadfields II Pty. Ltd. (“BII”), a foreign subsidiary of Sunrise; which has triggered a technical event of default.BII is involved in the provision of education...

MARC has reaffirmed Sunrise’s short term and long term debt rating at MARC-1ID, and A+ID respectively, reflecting Sunrise’s strong financial track record with operating margins averaging 23% in the last four years, low debt leverage position and high financial flexibility. The ratings were also underpinned by the company’s established position as a high-end developer, with severa...

MARC has assigned MARC-1ID for Sunrise’s Islamic Commercial Paper issuance programme and A+ID for Islamic MTN issuance programme with value of up to RM150 million. The ratings reflect Sunrise’s good financial track record with operating margins averaging 23% in the last four years, low debt leverage position and good financial flexibility. The assigned ratings were also underpinned by ...

MARC has reaffirmed Sunrise’s short term rating of Murabahah Notes Issuance facility (MUNIF), Islamic Medium Term Notes and Bai’Bithaman Ajil Notes Issuance facility at MARC-1ID and A+ID respectively, reflecting Sunrise’s good financial track record with operating margins averaging 25% in the last four years, low debt leverage position and good financial flexibility. The rating is also under...

MARC has upgraded Sunrise’s short term debt rating from MARC-2ID to MARC-1ID, reflecting the company’s strong cash position, affording early redemption of the Bai’Bithaman Ajil Facility Tranche1; good financial track record with operating margins averaging 30% in the last four years; low debt leverage position and good financial flexibility with a current ratio of 0.32x and unencumbered asse...