MARC has withdrawn its ratings of AAID on Tele-Flow Capital Sdn Bhd’s RM10.0 million Junior Islamic Medium-Term Notes Facility. The rating withdrawal follows the final redemption of the outstanding RM5.0 million notes under the facility and the cancellation of the same on May 28, 2014 as confirmed by the facility agent.Upon the withdrawal of the rating, MARC will no longer be providing analy...

MARC has upgraded its rating on Tele-Flow Capital Sdn Bhd‘s (Tele-Flow Capital) RM10.0 million Junior Islamic Medium Term Notes (IMTN) Facility (Junior Notes) to AAID from AA-ID. The rating outlook is stable. The rating action affects the RM5 million outstanding Junior Notes as at end-September 2013. The rating upgrade follows the elimination of the structural subordination of the Junior Not...

MARC has withdrawn its ratings of MARC-1ID/AAID on Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance (MUNIF)/Islamic Medium Term Notes (IMTN) (collectively referred to as Senior Notes). This follows the full redemption of the RM10 million Senior Notes outstanding on April 19, 2013 and the cancellation of the facility effective May 27, 2013 as ...

MARC has affirmed its ratings of MARC-1ID/AAID on Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance (MUNIF)/Islamic Medium Term Notes (IMTN) Facility (Senior Notes) and concurrently upgraded the rating on the RM10 million Junior IMTN Facility (Junior Notes) to AA-ID from A+ID. The outlook on the ratings is stable. The rating action affects RM1...

MARC has affirmed its ratings on special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) (Senior Notes) and RM10 million Junior Islamic Medium Term Notes (Junior Notes) at MARC-1ID /AAID and A+ID respectively. The rating outlook is stable. The rating action affects RM25 million ...

MARC has affirmed its ratings of MARC-1ID/AAID and A+ID on Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90.0 million MUNIF/IMTN Facility (Senior Notes) and RM10.0 million Junior IMTN Facility (Junior Notes) respectively with stable outlook. The ratings reflect the credit strength of the telecommunication operators (telcos) as the source of repayment for the notes backed by a 10-year lic...

MARC has affirmed the ratings of special purpose company Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) RM90.0 million Murabahah Underwritten Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) Facility (Senior Notes) at MARC-1ID/AAID. The ratings reflect the credit strength of the telecommunication operators (telcos) as the source of repayment for the notes backed by a 10-year l...

MARC has affirmed the ratings of special purpose company Tele-Flow Capital Sdn. Bhd.’s (Tele-Flow Capital) RM90.0 million MUNIF/IMTN Facility (Senior Notes) and RM10.0 million Junior IMTN Facility (Junior Notes) at MARC-1ID /AAID and AID, respectively. The ratings reflect the credit strength of the telecommunication companies (telcos) as the source of repayment for the notes backed by a 10-y...

MARC has assigned an ‘AID’ rating to Tele-Flow Capital Sdn Bhd’s (Tele-Flow Capital) up to RM10.0 million Junior Islamic Medium Term Notes (Junior IMTN) issued under its RM100.0 million MUNIF/IMTN Facility (Facility). MARC had earlier announced the affirmation of the ratings on Tele-Flow Capital’s RM90.0 million Senior MUNIF/IMTN (Senior Notes) at MARC-1ID /AAID on August 1...

MARC has affirmed the ratings of MARC-1ID/AAID to Tele-Flow Capital Sdn. Bhd.’s (Tele-Flow Capital) Senior Notes under its RM90.0 million MUNIF/IMTN Facility.  The ratings reflect the credit quality of a rental payment stream from creditworthy telecommunication companies (telcos) that is assessed to be MARC-1ID/AAID. The payment stream is backed by a licensing agreement that obligates t...