MARC has withdrawn its AA-ID rating on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Serial Bonds). The withdrawal follows the early redemption of all outstanding amounts under the Istisna’ Serial Bonds on December 31, 2013. Bayu Padu is a special purpose funding entity of SapuraKencana Petroleum Berhad. Upon the withdrawal of the rating, MAR...

MARC has affirmed the rating of AA-ID on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna' Serial Bonds) with a stable outlook. The rating action affects RM130 million of outstanding Istisna' Serial Bonds. Bayu Padu is a special purpose funding entity of SapuraKencana Petroleum Berhad (SapuraKencana). SapuraKencana is one of the world’s largest integra...

MARC has withdrawn its MARC-1ID/AA-ID ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM100 million Murabahah Commercial Paper/Medium Term Notes (Murabahah CP/MTN) programme with immediate effect following the full redemption of the outstanding RM90 million Murabahah CPs and the expiration of the seven-year facility programme on November 28, 2012. MARC’s analytical coverage on Bayu Padu is ...

MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna' Bond) and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCP/MTN) programme at AA-ID and MARC-1ID/AA-ID respectively with a stable outlook. The rating action affects RM220 million of Istisna' Bonds and RM95 million of MCP notes outstanding under the rated program...

MARC has upgraded the long-term Islamic debt rating of Bayu Padu Sdn Bhd (Bayu Padu) to AA-ID from A+ID and affirmed the company's short-term Islamic debt rating at MARC-1ID. The outlook for the ratings is stable. The rating action affects RM250 million of outstanding Istisna' Serial Bonds (Istisna' Bonds) maturing from 2012 through 2015, and RM100 million Murabahah CPs issued under Bayu Padu's Mu...

MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Bonds) and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCP/MMTN) at A+ID and MARC-1ID/A+ID respectively. The outlook on the ratings is maintained at stable. Wholly-owned by SapuraCrest Petroleum Bhd (SapuraCrest), Bayu Padu is a SPV set up for raising th...

MARC has affirmed its ratings on Bayu Padu Sdn Bhd’s (Bayu Padu) RM500 million Istisna’ Serial Bonds (Istisna’ Bonds) and RM100 million Murabahah Commercial Papers/ Medium Term Notes (MCP/MMTN) at A+ID and MARC-1ID/A+ID respectively. The outlook on the ratings is stable. A wholly-owned funding vehicle of SapuraCrest Petroleum Berhad (SapuraCrest), Bayu Padu’s debt is ultima...

MARC has reaffirmed its ratings on Bayu Padu Sdn Bhd’s (“Bayu Padu”) RM500 million Istisna’ Serial Bonds (“Istisna’ Bonds”) and RM100 million Murabahah Commercial Papers/ Medium Term Notes (“MCP/MMTN”) (cumulatively, Islamic debt facilities) at A+ID and MARC-1ID/A+ID respectively. The outlook on the ratings is stable. Bayu Padu is a wholly-owne...

MARC has lifted the MARCWatch Developing placed on Bayu Padu Sdn Bhd’s (“Bayu Padu”) A+ID/MARC-1ID rated RM500 million Istisna’ Bonds and RM100 million Murabahah Commercial Papers/Medium-Term Notes (“MCP/MMTN”). Bayu Padu is a wholly-owned special purpose vehicle of SapuraCrest Petroleum Berhad (“SapuraCrest”) incorporated to facilitate the issuance ...

MARC has extended its MARCWatch Developing placement in respect of Bayu Padu Sdn Bhd’s (“Bayu Padu”) ratings of A+ID/MARC-1ID on its RM500 million Istisna’ Serial Bonds and RM100 million Murabahah Commercial Papers/Medium Term Notes (MCPs/MMTNs).Bayu Padu, which is 100% owned by Sapuracrest Petroleum Berhad (“SapuraCrest”), is a special purpose vehicle (“S...