MARC Affirms its Ratings on Ranhill Powertron II’s Islamic Medium-Term Notes [S1] with Stable Outlook

The Malaysian Rating Corporation (MARC) has affirmed its ratings on the MYR 140 million outstanding Islamic Medium-Term Notes (IMTN) of Ranhill Powertron II (RPII) at AAis and the AAAis (fg) rating of the MYR 350 million [S2] outstanding guaranteed IMTN with a Stable Outlook.

The AAis rating on the MYR 140 million IMTN illustrates the favourable conditions in the Power Purchase Agreement (PPA) transferring demand risk and fuel price risk to the offtaker, Sabah Electricity (SE), in which Tenaga Nasional Berhad (AAA / Stable) has an 83% stake.

Meanwhile the AAAis (fg) rating of the MYR 350 million outstanding guaranteed IMTN is a reflection of the unconditional and irrevocable Kafalah gu...