Malaysian Rating
Corporation Berhad (MARC) was announced winner of Malaysia’s 2016 Project
Finance Rating Agency of the Year at The Asset’s Triple A Rating Agency of the
Year Awards ceremony held in Hong Kong on February 28, 2017. The Asset, a Hong
Kong-based magazine covering Asia’s financial industry, annually recognises the
region’s significant capital market intermediaries and transactions. This marks
the second year in a row that MARC has earned this industry distinction.
“We are honoured that The
Asset has recognised MARC for the second year in a row as a key player in
rating project finance transactions,” said Rajaseharan Paramesran, MARC’s Chief
Rating Officer who was at the event to receive the award. “This accolade serves
as a valuable endorsement of our ratings as benchmarks for assessing the credit
quality of project financings. It also signifies that our commitment to remain
a valued capital market intermediary has been acknowledged.”
The Malaysian debt capital
markets represent an important source of infrastructure financing and remain
pivotal to the country’s economic growth and development. Among the noteworthy
project financings rated by MARC in recent years are Lebuhraya Duke Fasa 3’s
RM3.64 billion sukuk in 2016, Jimah East Power’s RM10.0 billion sukuk in 2015,
Malakoff Power’s combined RM11.3 billion sukuk issuances in 2013, Tenaga
Nasional independent power units’ combined RM5.63 billion sukuk issuances in
2013 and the landmark PLUS’ RM23.35 billion sukuk in 2012.
David Lee, MARC’s Head of
Project and Structured Finance Ratings, who also attended the event said, “Our
commitment to contribute to vibrant capital market project financing extends
not only to identifying new and changing risks, but also to engage in early
constructive and open discussions on managing uncertainty and risk in
greenfield project financings with the relevant stakeholders.”
MARC is committed to
provide active thought leadership in project financing, as evidenced by its
recently published methodology for the rating of solar power project
sukuk/bonds.
Contacts:
Ahmad Feizal Sulaiman Khan, +603-2082 2211/ feizal@marc.com.my;
Lana Mahbob, +603-2082 2212/ lana@marc.com.my.
March
1, 2017
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