MARC has assigned a rating of AA-ID (Double A Minus, Islamic Debt) to PSSB Ship Management Sdn Bhd’s (PSM) RM40.0 million Bai’ Bithaman Ajil Islamic Debt Securities (BAIS). The rating is underpinned by the charter contract between Pelangi Shipping Sdn Bhd (PSSB) and the Government; the rental proceeds of which shall be the source of repayment for the BAIS facility; and a tight issue structure....