Rating

Posted Date: December 16, 2020 MARC has affirmed its financial institution (FI) ratings of A/MARC-1 on Bank Muamalat Malaysia Berhad (Bank Muamalat) and AIS rating on the bank’s Islamic Senior Notes Programme (Senior Sukuk) of up to RM2.0 billion. The ratings outlook is stable. The FI ratings reflect Bank Muamalat’s relatively modest size, strong capitalisation, […]

Posted Date: December 16, 2020 MARC has affirmed its AA+IS rating on Celcom Networks Sdn Bhd’s (CNSB) RM5.0 billion Sukuk Murabahah Programme with a stable outlook. CNSB provides network telecommunication (telco) services to Celcom Axiata Berhad (Celcom) group. In assessing CNSB, MARC’s approach is to consider the overall credit profile of Celcom, premised on strong

Posted Date: December 11, 2020 MARC has affirmed its MARC-1IS/AAAIS ratings on PETRONAS Dagangan Berhad’s (PDB) Islamic Commercial Papers (ICP) and Islamic Medium-Term Notes (IMTN) Programmes of up to RM2.0 billion. The ratings outlook is stable. There is currently no amount outstanding under the rated programmes, which will expire in March 2021. The ratings incorporate

Posted Date: December 11, 2020 MARC has affirmed its AA-IS rating on Malakoff Power Berhad’s (MPower) RM5.4 billion Sukuk Murabahah with a stable outlook. MPower is the operations and maintenance operator of its parent company Malakoff Corporation Berhad’s (Malakoff) majority-owned domestic power plants. The rating approach considers the consolidated credit profile of MPower and its

Posted Date: December 11, 2020 MARC has withdrawn its AAA rating on Cagamas MBS Berhad’s RM385.0 million Tranche 6 issued under the RM2,060.0 million asset-backed fixed rate serial bonds (CMBS 2005-2). The rating withdrawal follows the full redemption of the tranche as confirmed by the facility agent. MARC’s analytical coverage on CMBS 2005-2 is now

Posted Date: December 11, 2020 MARC has affirmed its MARC-1IS and AA-IS ratings on Northport (Malaysia) Bhd’s (Northport) Islamic Commercial Papers (ICP) Programme and Islamic Medium-Term Notes (IMTN) Programme. The ratings outlook is stable. The ratings affirmation is mainly driven by Northport’s established position in providing container and conventional cargo handling services through North Port

Posted Date: December 10, 2020 MARC has affirmed its AA-IS rating on Tanjung Bin O&M Berhad’s (Tanjung Bin O&M) RM470.0 million Islamic Securities (Sukuk Wakalah) with a stable outlook. The rating reflects the credit strength of the issuer’s parent, Malakoff Power Berhad (MPower), which has provided an unconditional and irrevocable undertaking to top up any

Posted Date: December 2, 2020 MARC has affirmed its AA-IS rating on AZRB Capital Sdn Bhd’s (ACSB) issuance of RM535.0 million Islamic Medium-Term Notes (Sukuk Murabahah) with a stable outlook. The affirmed rating incorporates the strength of the concession receivables from the government which are channelled to ACSB’s designated accounts for its sukuk payment obligations.

Posted Date: November 30, 2020 MARC has affirmed its ratings on Alpha Circle Sdn Bhd’s RM540 million Senior Sukuk Musharakah and RM55 million Junior Sukuk Musharakah at AA-IS and AIS. The ratings outlook has been revised to negative from stable. The current outstanding of senior sukuk is RM160 million and junior sukuk is RM55 million.

Posted Date: November 30, 2020 MARC has withdrawn its ratings of MARC-1IS/AAA-IS on Gas Malaysia Berhad’s (Gas Malaysia) RM700 million Islamic Commercial Papers/Islamic Medium-Term Notes (ICP/IMTN) programmes. The ratings withdrawal follows early termination of the programmes, as confirmed by the facility agent. The ratings carried a stable outlook. The programmes were terminated following an exchange