MARC Affirms Sukuk and Debt Ratings of WCT Holdings with a Stable Outlook

With a Stable Outlook on all ratings, Malaysian Rating Corporation (MARC) has affirmed the ratings on WCT Holdings’ (WCT) MYR 1.5 billion Sukuk Murabahah Programme at AA-IS, and WCT’s MYR 1.0 billion Perpetual Sukuk Musharakah Programme at AIS. MARC also affirmed the rating on WCT’s MYR 1.0 billion Medium Term Notes (MTN) Programme at AA-.

The ratings affirmation reflect WCT’s solid and fairly diversified construction order book providing earnings visibility, as well as WCT’s healthy liquidity position despite near-term debt obligations.

The rating also incorporates the strong source of liquidity presented via WCT’s considerable underdeveloped la...