Rating Announcements

MARC Ratings has affirmed its AAAIS rating on Aman Sukuk Berhad’s (Aman) Islamic Medium-Term Notes (IMTN) Programme of up to RM10.0 billion. The rating affirmation reflects the credit strength of the Malaysian government as the sole obligor of rental payment streams to meet the obligations under this programme. Aman has informed it will undertake an […]

MARC Ratings has affirmed Segi Astana Sdn Bhd’s RM415.0 million ASEAN Green Medium-Term Notes (MTN) rating at A+ and revised the rating outlook to positive from stable. Segi Astana is the concessionaire for the integrated complex, gateway@klia2, at Kuala Lumpur International Airport Terminal 2 (KLIA Terminal 2) in Sepang, Selangor. The gateway@klia2 complex comprises a

MARC Ratings has affirmed its ratings on Sunway Group’s issuances with a stable outlook. The list of issuances is appended at the end of this press release. Sunway Group’s long operating track record and strong market position in key sectors of the economy remain key drivers of the ratings affirmation. This is moderated by increasing

MARC Ratings has withdrawn its financial institution ratings of AAA/MARC-1 on Islamic Development Bank (IsDB), as well as its AAAIS rating on the Sukuk Wakalah Programme of RM400 million issued by Tadamun Services Berhad, a trust established by IsDB. The ratings withdrawal follows the expiry of the programme as confirmed by the facility agent on

MARC Ratings has assigned a preliminary rating of MARC-1 to Merchantrade Asia Sdn Bhd’s (Merchantrade) proposed Multi-Currency Commercial Papers (CP) Programme of up to RM200 million in nominal value. The rating is confined to ringgit-denominated issuance under the proposed programme, with the initial drawdown expected to be around RM50 million to RM70 million. The rating

MARC Ratings has affirmed its AA-IS rating on Leader Energy Sdn Bhd’s outstanding ASEAN Green Sustainable and Responsible Investment Sukuk Wakalah of RM230.0 million with a stable outlook. The rating affirmation incorporates the strong operational track record of the two solar plants held by Leader Energy’s wholly-owned project companies, Leader Solar Energy Sdn Bhd (LSE

MARC Ratings has affirmed its ratings of AAAIS(cg) /MARC-1IS(cg) on F&N Capital Sdn Bhd’s Islamic Medium-Term Notes (IMTN) and Islamic Commercial Papers (ICP) programmes with a combined limit of up to RM3.0 billion. The outlook is stable. F&N Capital is a funding vehicle of Fraser & Neave Holdings Bhd (F&NHB) which has provided an unconditional

MARC Ratings has removed YNH Property Berhad’s (YNH) Islamic Medium-Term Notes Programme (Sukuk Wakalah) rating from MARCWatch Negative placement and concurrently downgraded the rating to BBIS. The rating had been on negative watch since January 18, 2024, precipitated by YNH’s weak financial position, delayed asset disposals and material issues concerning its key shareholder that have

MARC Ratings has assigned a final rating of MARC-1IS to OCK Group Berhad’s (OCK) RM500.0 million Islamic Commercial Papers (ICP) Programme. The rating agency has reviewed the final documentation for the programme and is satisfied that the terms and conditions have not changed in any material way from the draft documentation on which the preliminary

MARC Ratings has affirmed its MARC-1IS/AAIS ratings on Alam Flora Sdn Bhd’s RM700 million Islamic Commercial Papers and Islamic Medium-Term Notes (ICP/IMTN) Programmes with a stable outlook. The affirmation reflects Alam Flora’s stable cash flows derived from its 22-year waste collection and public cleansing concession agreement with the government ending 2033, as well as its