MARC Affirms MISC’s MYR 2.5 Billion Islamic Medium-Term Notes with Stable Outlook

Malaysian Rating Corporation (MARC) has affirmed its rating of the MYR 2.5 billion Islamic Medium-Term Notes (IMTN) programme of MISC Berhad (MISC) at AAA-IS, with a Stable Outlook. MISC is the main liquefied natural gas (LNG) shipping provider for Petroliam Nasional (PETRONAS), the Malaysian oil and gas company.

MARC’s affirmed rating of MISC reflects the expectation of strong support from PETRONAS, given the operational and financial ties between the two companies. The rating also takes into consideration the consistent source of revenue from LNG shipping and offshore contracts, coupled with robust liquidity.

MISC is a significant global performer in the energy shipping bus...