MARC has affirmed its rating of AA-IS with a stable outlook on MMC Corporation Berhad’s (MMC) RM1.5 billion Sukuk Murabahah Programme (Sukuk Murabahah). The rating affects the outstanding sukuk of RM1.3 billion issued as at November 30, 2016. The affirmed rating is driven by MMC group’s sizeable business operations and strong competitive position in three key businesses namely port and ...

MARC has maintained its AA-IS rating with a stable outlook on MMC Corporation Berhad’s (MMC) RM1.5 billion Sukuk Murabahah Programme following its assessment on the impact of the debt-funded acquisition of NCB Holdings Berhad (NCB) on the group. MARC’s rating action has taken into account MMC’s deleveraging plan over the near term to address the spike in group borrowings and leverage levels...

MARC has assigned a rating of AA-IS with a stable outlook to MMC Corporation Berhad’s (MMC) proposed notes issuance of up to RM1.5 billion under a Sukuk Murabahah Programme (Sukuk Murabahah). The bulk of the proceeds from the proposed programme will be largely utilised to refinance MMC’s existing borrowings at the holding company level. MMC is mainly an investment holding company whose k...