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MARC has withdrawn its rating of AAAIS on Musyarakah One Capital Berhad’s RM2.5 billion Asset-Backed Sukuk Musyarakah Programme upon confirmation of the cancellation of the facility effective April 4, 2010 by facility agent, CIMB Investment Bank Berhad. The outstanding amount of Sukuk Musyarakah Series 2005-A was redeemed in full on April 2, 2010. Contacts: Nadia Edmaz Abdul Hadi, 03-2090 22...
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MARC has affirmed Musyarakah One Capital Berhad’s (Musyarakah One) Sukuk Musyarakah Series 2005-A under its RM2,500 million Sukuk Musyarakah Programme at AAAIS . The outlook on the rating is stable. The affirmation is premised on the underlying credit strength of the Government of Malaysia (GOM) as the sole obligor under the supply contracts from which the receivables backing the sukuk arise...
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MARC has reaffirmed the AAAIS rating of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A. The rating reflects the transaction structure of the receivables-backed sukuk issuance as well as the underlying credit quality of the sole obligor, the Government of Malaysia (GOM). The receivables backing the sukuk constitute irrevocable and unconditi...
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MARC said today that there is no downward pressure on the AAAIS rating assigned to Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A pursuant to TIME Engineering Bhd (TIME) becoming an affected listed issuer as a result of the revised Practice Note No.17/2005 (PN17). TIME owns 100% of TIME Systems Integrators (TSI), the Originator under the up to R...
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MARC has withdrawn the AAAID rating assigned to MOCB’s RM103.62 million Sukuk Musyarakah Series 2005-B with immediate effect following the full redemption of the Sukuk on 3rd August 2007.As at 15th August 2007, MARC’s rating obligation in respect of MOCB’s up to RM2,500.0 million Sukuk Musyarakah Issuance Programme is limited to the RM336.6 million currently outstanding under MOC...
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MARC has reaffirmed the ratings of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A and Series 2005-B at AAAID. The ratings reaffirmation reflects the credit strength of the Government of Malaysia (“GOM”) being the paymaster via its obligation under the Sijil Utama 2005-A and 2005-B, which have been legally assigned to Musyarakah One; ...
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MARC has affirmed the ratings of Musyarakah One Capital Berhad’s (“Musyarakah One”) Sukuk Musyarakah Series 2005-A and Series 2005-B at AAAID. The ratings affirmation reflects the superior credit strength of the Government of Malaysia (“GOM”) being the paymaster via its obligation under the Sijil Utama 2005-A and 2005-B which have been legally assigned to Musyarakah O...
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Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AAAID to Musyarakah One Capital Berhad’s (Musyarakah One) RM103.62 million Sukuk Musyarakah Series 2005-B. This series is the second issuance of a RM2.5 billion Sukuk Musyarakah Programme.Musyarakah One Capital Berhad (“Musyarakah One”), is a bankruptcy remote special-purpose vehicle incorporated for the purpose o...
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Malaysian Rating Corporation Berhad (MARC) has assigned a long term rating of AAAID to Musyarakah One Capital Berhad’s RM566.56 million Sukuk Musyarakah Series 2005-A.Under this transaction, a bankruptcy remote special purpose vehicle, Musyarakah One Capital Berhad (“Musyarakah One”), has been incorporated for the purpose of acquiring receivables from the Originator, TIME Systems Integrators...
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